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Inflation rate hits 10.8, as the country records trade surplus.

Inflation rate hits 10.8, as the country records trade surplus.

The Zambia Statistics Agency says the annual inflation rate for the month of November 2019, has increased to 10.8 percent from 10.7 percent recorded in October 2019, indicating a 0.1 percentage point increase.
Speaking during the Zambia Statistics Agency monthly bulletin Briefing, Agency Interim Statistician General Mulenga Musepa has attributed the increase in the annual inflation rate to price increase in food items.
“This means that on average, prices of goods and services increased by 10.8 percent between November 2018 and November 2019” Mr Musepa said.
He adds that the annual food inflation rate for the month of November was recorded at 13.5 compared to 13 .3 percent recorded in October 2019.
And Mr Mupesa said Zambia has recorded a trade surplus of k146.9 million in October 2019 from the trade deficit of K732.3 million in September 2019. 
“Domestic exports increased from 6,566.3 million in September 2019, to K7, 755.9 in October 2019” He explained.
Mr Masepa attributed the increase in exports to thirty three point five percent increases in export earnings from the intermediate goods category.
He further said imports increased by 4.3 percent from K7, 298.6 million in September 2019 to K7, 609.0 million in October 2019 attributed to increase in intermediate and consumer goods imports by 14.9 percent and 7.4 percent.

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