Zambia’s Annual inflation for May 2024 has increased to 14.7 percent from 13.8 percent recorded in April 2024.
This means that on average, prices of goods and services increased by 14.7 percent between May 2023 and May 2024.
Zambia Statistics Agency Statistician General Goodson Sinyenga has attributed the increase to price movements of both food and non-food items.
Speaking at a media briefing, Mr. Sinyenga said annual food inflation for may 2024 was recorded at 16.2 percent compared to 15.7 percent in the previous months.
He says this means that on average, prices of food items increased by 16.2 percent between May 2023 and May 2024.
And Mr. Sinyenga says of the 14.7 percent annual inflation, Lusaka Province contributed the highest at 4.1 percentage points followed by Copperbelt which contributed 3.1 percentage points while Central Province and Southern Province had the lowest contribution of 0.4 percentage points.
Meanwhile Mr. Sinyenga says the cumulative total trade from January to April 2024 was 163.1. billion kwacha while that of 2023 for the same period was 133.8 billion kwacha representing a 21.9 percent increase.
He further adds that the total value of exports vial all modes of transport for the period of January to April 2024 was 83.3 billion kwacha.
The Statistician General says Transport accounted for the highest value at 36.1 billion kwacha representing 43.3 percent share, Air Transport was second with 2.7 billion kwacha while Rail transport was third with value of 1.5 billion kwacha and that other modes of transport accounted for 43.0 billion kwacha representing 51.6 percent.