• The increase in the annual rate of inflation was mainly attributed to price increases in food items.
• Zambia has recorded a 42.8 percent increase in a trade surplus of K9.3 billion.
• Exports which mainly comprise of domestically produced goods, increased by 5.4 percent to K17.5 billion

Zambia Statistics Agency says annual inflation rate for February 2021 has increased to 22.2 Percent.

Speaking during a monthly dissemination meeting held virtually, Zamstats Interim Statistician General Mulenga Musepa said the increase is a change of 0.7 percentage points compared to 2.3 percentage points change in January when the rate stood at 21.5 percent.

Mr. Musepa further revealed that the annual food inflation rate for February, 2021 was recorded at 27.3 percent compared to 25.6 percent recorded in January 2021 attributing the increase to prices of food items such as cereals, meats, fish, fruits, vegetables, fats & oils, milk and eggs.

He said the increase in the annual rate of inflation was mainly attributed to price increases in food items,” he said.
“On the other hand, the annual non-food inflation rate for the reviewed month was recorded at 16.2 percent, down from 16.7 percent in January 2021,” he said.

Meanwhile Mr. Musepa has disclosed that Zambia has recorded a 42.8 percent increase in a trade surplus of K9.3 billion in January 2021 compared to a surplus of K6.5 billion in December 2020.

He said Exports which mainly comprise of domestically produced goods, increased by 5.4 percent to K17.5 billion in January 2021 from K16.6 billion in December 2020.

The Interim Statistician General however noted that Imports decreased by 18.8 percent to K8.2 billion in January 2021 from K10.1 billion in December 2020.

“This decrease in imports was mainly as a result of a 32.1, 20.5 and 9.2 percent decrease in imports of Capital goods, Consumer goods and Raw materials, respectively,” he said.