MARCH INFLATION RATE REDUCES TO 7.5%

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MARCH INFLATION RATE REDUCES TO 7.5%

INFLATION

The annual inflation rate for the month if March 2019 has reduced to 7.5 percent compared to the 7.8 percent recorded in February 2019.

 

Central Statistical Office Acting Director Goodson Sinyenga says the food inflation rate increased from 7.7 percent in February to 8.2 percent in March while the non-food inflation reduced from 7.9 percent in February to 6.8 percent in March.

 

Mr Sinyenga said this when he presented the March 2019 CSO bulletin in Lusaka today.

 

He explains that the prices of goods were still increasing, but at a slower rate than the previous month.

 

Meanwhile, Zambia recorded a trade deficit of K309 billion in February 2019 coming from a trade surplus of 938 billion kwacha recorded in January 2019.

 

Mr Sinyenga has attributed this to the 16.6 percent decline in the Value of the country’s exports between January and February 2019.

 

Mr Sinyenga explains that the export value decreased from eighteen billion three hundred and seventy-three point six million kwacha in January to six billion nine hundred and eighty-five point eight million Kwacha in February 2019.

 

He says the decline in the value of exports is due to the 21 percent decrease in the export of intermediate goods.

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