By BUUMBA CHIMBULU
ZAMBIA’S annual inflation rate for November has increased to 12.9 percent owing to price movements of selected food and non-food items.
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The annual inflation for November 2023, increased to 12.9 percent from 12.6 percent recorded in October 2023, according to the Zambia Statistical Agency (ZamStats) Statistician General, Mulenga Musepa.
Mr Musepa announced yesterday in Lusaka that this meant that on average, prices of goods and services increased by 12.9 percent between November 2022 and November 2023.
He said annual food inflation for November, 2023 was recorded at 13.7 percent compared to 13.6 percent the previous month.
“This meant on average prices of food items increased by 13.7 percent between November 2022 and November 2023,” he said.
Mr Musepa noted that the outturn was mainly attributed to price movements in cereals (Samp, cassava meal, maize grain, and rice), fish, groundnuts and beans.
He said annual non-food inflation for November was recorded at 11.8 percent compared to 11.3 percent the previous month.
This development was mainly attributed to increases in prices of non-food items such as purchase of motor vehicles, fuel, transport fair, spare parts and accessories.
He said that of the overall 12.9 percent annual inflation, food and non-alcoholic beverages group contributed 7.9 percentage points, while non-food items accounted for 5,0 percentage points.
“Of the 5.0 percentage points, transport contributed the highest at 2.1 percentage points followed by housing, water, electricity, gas and other fuels at 0.9 percentage points, clothing and footwear, furniture, household equipment and routine household maintenance at 0.7 and 0.6 percentage points, respectively,” Mr Musepa said.
He added that the rest of the non-food group accounted for the remaining 0.7 percentage points.
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