Zambia Statistics Agency (ZAMSTATS) says the annual inflation rate for June 2020 has slowed down to 15.9% from 16.6% in May 2020.

Confirming the development to Money FM news, ZAMSTATS Interim statistician General Mulenga Musepa said the decrease in the annual food inflation which was mainly attributed to decreases in prices of food items such as cereals and fish food inflation decreased to 16.3% from 17.5%.

Mr. Musepa however disclosed that the Non-food inflation for June 2020 remained unchanged at 15.5%.

“Food and Non-alcoholic beverages accounted for 8.7 percentage points, while non-food items accounted for 7.2 percentage points,” he said.

Mr. Musepa further disclosed that a Trade Surplus of K3, 843.4 million was recorded in May 2020 from an April 2020 surplus of K2, 231.6 million representing a 72.2 percent increase, driven by an increase in exports completely with a fall in imports.

“Exports increased by 17.9% to K10, 524.5 million in May 2020 from K8, 929.5 million in April. 2020 while imports decreased by 0.3% to K6, 681.1 million in May 2020 from K6, 697.9 million in April. 2020.” He said in a statement.

Mr. Musepa disclosed that exports mainly increased due to a 12.0% increase in Intermediate goods exports earnings to K8, 645.9 million from K7, 718.7 million in April. 2020.

He explained that imports declined by 0.3% to K6, 681.1 million in May 2020 from K6, 697.9 million in April 2020.

The Interim Statistician General said the decrease in imports was driven by lower import bills for Capital goods (13.3%) and Consumer goods (5.2%).