The Annual inflation rate for July 2021 has remained flat at 24.6% same as that recorded in June 2021 as Kwacha continues with a bullish trend and appreciating against the United States Dollar.
This means that on average, prices of goods and services increased by 24.6 percent between July 2020 and July 2021 which reflects the easing of inflation for both food and non-food items.
Zambia Statistics Agency (ZamStats), interim statistician General Mulenga Musepa said the annual food inflation for July, 2021 was recorded at 31.2 percent same as that recorded in June 2021.
Mupesa said during the July monthly bulletin presentation on Thursday, July 29, 2021, which the Zambian Business Times-ZBT attended that the non-movement of the food inflation was mainly attributed to the relative price stability for food items such as Dried Kapenta like Mpulungu, Siavonga and Chisense, Cooking Oil and Vegetables such as Rape, Tomatoes, Cabbage, Dried Beans.
Some of the most sort out food items whose prices are still on the high side include cooking oil, meat products, eggs and dried Kapenta.
Among the most essential foodstuffs, brisket and mixed cut recorded the highest year on year inflation rate both at 55%, while fillet steak and rump steak were second and third respectively at 54.56% and 53.51%.
“The annual non-food inflation rate for July 2021 was recorded at 17.0 percent compared to 17.1% in June 2021. This was mainly due to price decreases in Clothing & Footwear, Men’s and Ladies leather shoes, Sports shoes, Boy’s school shoes & Miscellaneous goods and services such as Shampoo, Dettol, Umbrellas,” he said.
Meanwhile, a disaggregation of the annual inflation rate by province shows that the annual inflation rate for July, 2021 increased for Copperbelt at 24.0% from 23.6%, Eastern at 24.6% from 24.4%, and North Western at 23.3% from 21.4%.
Annual inflation rate for July decreased for Central at 25.8% from 26.5%, Lusaka at 25.8% from 25.9%, Northern at 32.0% from 32.1% and Western province at 24.9% from 26.2%.
Mupesa said Provincial annual inflation remained the same for Luapula and southern at 21.5 and 18.4 percent respectively.
Provincial changes in annual inflation rate showed that in July 2021, Northern Province had the highest annual inflation rate at 32.0 percent, followed by Central and Lusaka provinces both at 25.8 percent while Southern province had the lowest at 18.4 percent
