• Annual food inflation for May was recorded at 12.3 percent compared to 14.1 percent
• Annual Non-food Inflation was recorded at 7.5% percent from 8.2 percent.
• Zambia recorded a trade surplus of K3.9 billion in April 2022.

Zambia Statistics Agency (ZAMSTATS) reveals the country’s overall Annual Inflation has slowed down to 10.2 percent for the Month of May 2022 from 11.5 percent recorded in April this year.

ZamStats Interim Statistician General Mulenga Musepa noted the slow-down in annual inflation is mainly attributed to price movements in both food and Non-food items.

Mr. Musepa explained Annual food inflation for May was recorded at 12.3 percent compared to 14.1 percent last month in items such as Fish Meat, fruits and Vegetables.

“This development was mainly attributed to price movements in food items such as Meat (Brisket, Fillet steak, Chicken frozen, T bone); Fish (Frozen fish, Buka buka, Dried Kapenta); Fruits (Lemons, Watermelon, Groundnuts) and Vegetables (Pumpkin leaves, Sweet potato leaves, Chinese Cabbage, Okra, Cabbage and Tomatoes),” said Mr. Musepa.

He added that Annual non-food Inflation was recorded at 7.5% percent from 8.2 percent recorded last Month on items such as fuels and Lubricants, Clothing Materials, refrigerator and Stove.

“This outturn was mainly on account of price movements of non-food items such as Fuels and Lubricants (Diesel, Petrol, Engine oil); Clothing materials (citenge, silk and clothing); Shoes and footwear (Sports shoes, lady’s shoes, lady’s synthetic shoes, Tropicals); Refrigerator and Stove,” the Interim Statistician general explained.
Mr. Musepa also pointed out that of the overall 10.2 percent annual inflation, Food and Non-alcoholic beverages group contributed 6.9 percentage points, while Non-food items accounted for 3.3 percentage points.
He stated that of the 3.3 percentage points, the Clothing and footwear contributed the highest at 0.8 percentage points, followed by Housing, water, electricity, gas and other fuels at 0.7 percentage points.

“Furnishing Household equipment and routine household maintenance groups contributed 0.6 percentage points” and “the rest of the Non-Food group accounted for the remaining 1.2 percentage points,” latest figures show.

Meanwhile, Mr. Musepa revealed that Zambia recorded a trade surplus of K3.9 billion in April 2022 compared to a surplus of K6 billion in March 2022 indicating a 34.6 percent decrease.

He explained exports mainly comprising domestically produced goods, decreased by 12.6 percent to K16.3 billion in April 2022 from K18.7 billion in March 2022 mainly on account of a 19.3 and 13.9 percent decrease in export earnings from Consumer goods and Intermediate goods.

He noted imports equally decreased by 2.2 percent to K12.4 billion in April 2022 from K12.7 billion in March 2022 mainly as a result of 15.9 percent decrease in imports of Intermediate goods mainly copper related.