For the first, inflation goes beyond 20 per cent

For the first, inflation goes beyond 20 per cent

Zambia’s

SONY DSC

SONY DSC

end year inflation for December 2015 has increased to 21.1% from19.5% recorded in November 2015.

The PF Government had targeted an end year inflation of 6.5 percent.

Central Statistical Office Director John Kalumbi has said during the December monthly bulletin release that the increase is attributed to both food and non food items. If the CSO can admit that it that bad, the the truth could be that inflation is above 40 per cent.

Kalumbi said the annual food inflation rate for December 2015 was recorded at 24.8% compared to 23.4% recorded in November 2015, while the annual non food inflation rate for December 2015 increased to 17.1% from 15.5% recorded in November 2015.

Kalumbi explained  that of the total 21.1% annual inflation rate, food and non alcoholic beverage products accounted for 12.8%, while non food products accounted for 8.3%.

He added that Lusaka had the highest provincial contribution of 6.0% while western province had the lowest contribution of 0.8%.Kalumbi further states that the country also recorded a trade deficit in November 2015 valued at K1.2 billion from the trade deficit of K2.5 billion recorded in October 2015.

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