• The increase in the annual rate of inflation is mainly attributed to price increases in some food items.
• Zambia records a trade surplus of K10.2 billion in April 2021.
• Cumulative total trade for the period January to April 2021 has been recorded at K114.40 billion.

Zambia Statistics Agency (ZAMSTATS) has reveals that the 2021 Annual inflation for May, has increased to 23.2 percent from 22.7 percent in April, 2021.

ZAMSTATS Interim Statistician General Mulenga Musepa says the increase in the annual rate of inflation is mainly attributed to price increases in some food items.

“On average, prices of goods and services increased by 23.2 percent between May 2020 and May 2021,” he said.

Mr. Musepa noted that Annual food inflation for May, 2021 was recorded at 28.5 percent compared to 27.2 percent in April 2021 indicating an increase of 1.3 percentage points.

According to Mr. Musepa, “this was mainly attributed to increase in prices of food items such as Fish (Frozen Fish, Buka buka, Fresh Kapenta, Kapenta (Mpulungu, Chisense); and Oils and Fats (Margarine, Peanut butter, cooking oil).”

He however stated that he annual non-food inflation rate for May 2021 was recorded at 17.1 percent from 17.5 percent in April 2021.

Mr. Musepa stated that, “the slowdown in the inflation rate was mainly attributed to the base effect in other personal effects (Suitcases, Coffin for an adult).”

Meanwhile the Interim Statistician General revealed that the cumulative total trade for the period January to April 2021 has been recorded at K114.40 billion compared to K62.46 billion representing an 83.2 percent increase.

Mr. Musepa said the total value of exports via all modes of transport for the period January to April 2021 is K74.9 billion.

He further revealed that Zambia has recorded a trade surplus of K10.2 billion in April 2021 compared to a surplus of K7.4 billion in March 2021 indicating a 37.5 percent increase.

“Imports increased by 3.9 percent to K11.6 billion in April 2021 from K11.2 billion in March 2021,” said Mr. Musepa.

He stated that exports mainly comprising domestically produced goods, increased by 17.3 percent to K21.7 billion in April 2021 from K18.5 billion in March 2021 while imports increased by 3.9 percent to K11.6 billion in April 2021 from K11.2 billion in March 2021.