• Zambia’s annual inflation rate for December 2021 decreases to 16.4 percent from November rate 19.3 percent.
• Slowdown in annual inflation is attributed to favorable price movements in both food and non-food items.
• Annual food inflation for December, 2021 was recorded at 19.9 percent.

Zambia’s annual inflation rate for December 2021 has decreased to 16.4 percent from the November rate which stood at 19.3 percent.
Zambia Statistics Agency (ZamStats), Interim Statistician General Mulenga Musepa explained that this means on average, prices of goods and services increased by 16.4 percent between December 2020 and December 2021.
Mr. Musepa said the slowdown in annual inflation was attributed to favorable price movements in both food and non-food items.
“Annual food inflation for December, 2021 was recorded at 19.9 percent compared to 25.4 percent recorded in November 2021, a decrease of 5.5 percentage points, “Mr. Musepa said.
He attributed the decrease to price movements in food items such as Cereals like Breakfast Mealie Meal, Roller Mealie Meal, Maize grain, Samp, Bread Flour Imported, and Fish among others.
And Mr. Musepa said the annual non-food inflation for December 2021 was recorded at 12.1 percent from 12.2 percent in November 2021, attributing the decrease to price movements of non-food items such as Glassware, tableware and household utensils.
Meanwhile, Gross Domestic Product (GDP) estimates for the third quarter of 2021 show that the economy grew by 3.5 percent.
According to Mr. Musepa, this represents a 6.5 percentage points increase from minus 3 percent recorded in the corresponding quarter of 2020.
“This is based on the year on year comparison of GDP at constant 2010 prices,” he said.
The Gross Domestic Product at current prices in the third quarter of 2021 was estimated at K113, 372 million compared to K90, 461 million recorded in the same quarter of 2020