Zambia inflation rises to 7.3 percent

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Zambia’s inflation for August has risen by 0.2 percent from 7.1 last month to 7.3 percent.

Central Statistics Director -CSO- John Kalumbi has attributed the 0.2 percent rise to an increase in non food inflation.

 

 

Mr. Kalumbi cites changes in transport, and other consumption goods that rely on transport.

Meanwhile, the CSO Director has revealed that Zambia in July recorded a trade deficit of 958.3 million kwacha.

 

 

He says this means that the country imported more in July than it exported in nominal terms.

Mr. Kalumbi has reiterated the need for diversification in the country to high value products that will fetch more both locally and internationally.

He adds that if power outages continue affecting producers leading to reduced production, a further rise in inflation may be recorded.

 

Mr. Kalumbi has however applauded government for considering investments in various sources of energy.

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