Annual Inflation Rate Falls to 9.2%

By Obert Simwanza

April 29 (Bloomberg) — Zambia’s annual inflation rate declined to 9.2 percent in April as food-price increases slowed, the Central Statistics Office said.

Inflation slowed from 10.2 percent in March, the agency said in an e-mailed statement today from the capital, Lusaka. The food-inflation rate dropped to 7.3 percent in the month from 9 percent previously, it said.

The Zambian government is targeting a year-end inflation rate of 8 percent this year, Finance Minister Situmbeko Musokotwane said in his budget speech in October.

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