The annual rate of inflation for the month of January 2020 has increased to 12.5 percent from 11.7 percent recorded in December 2019.

Zambia Statistics Agency Interim Statistician General Mulenga Musepa has attributed the increase in the inflation rate to the hike in prices of both food and non-food items.
“This means that on average, prices of goods and services increased by 12.5 percent between January 2019 and January 2020” Mr Musepa said.

He adds that housing, water, electricity and other gas fuels on the consumer price index main group increased by 12.0 percent between January 2019 and 2020.

He further says Zambia’s trade surplus has increased from K112.9 million in November 2019 to K422.0 million in Decemeber2019.
“Both imports and exports recorded decreases, but the decrease in imports outweighed that of exports resulting into a rise in the surpluses” He said.

Mr. Musepa explained that exports which mainly comprise of domestically produced goods decreased from K8, 565.3 million in November 2019 to K8, 401.3 million in December 2019.
He adds that imports decreased from K8, 452.4 million in November 2019 to K7, 979. 3 million in December 2019.