Zambia Statistical Agency says the annual inflation rate as measured by the all items Consumer Price Index for December 2019 has increased to 11.7 percent from 10.8 percent recorded in November 2019, indicating an increase of 0.9 percentage points.

Interim Statistician General Mulenga Musepa said on average, prices of goods and services increased by 11.7 percent between December 2018 and December 2019.
Mr Musepa said the increase in the annual rate of inflation was mainly attributed to price increase in food items.

And Mr Musepa added that on international Merchandise trade, Zambia’s trade surplus decreased by 23.1 percent from K146.9 million in October 2019 to K112.9 million in November 2019.

He noted that this trade surplus means that the country exported more than it imported in nominal terms.

“Both imports and exports recorded increases, though the increase in imports outweighed that of exports resulting into a reduction in the surplus.” He said.

Mr Musepa further said exports which mainly comprise domestically produced goods increased by 10.4 percent from K7, 755.9 million in October 2019 to K8, 565.3 million in November 2019.

“This increase was mainly attributed to the 10.2 percent increase in export earnings from the Intermediate goods category.” He said

Mr Musepa said Imports increased by 11.1 percent from K7, 609.0 million in October 2019 to K8, 452.4 million in November 2019. This increase in imports is mainly attributed to the 29.1 percent increase in the import bill for the Capital goods category.