Zambia’s inflation rate for the month of March 2019 has recorded a decrease of 0.3 percent the largest decrease in four months.
The March inflation rate decreased from 7.8 recorded in February 2019 to 7.5 recorded this month and this has meanly been attributed to the reduction in fuel and Lubricants (Diesel and petrol) and solid Fuels such as charcoal and petrol.
Despite the reduction in fuel prices that led to a decrease in the inflation rate, the annual food inflation rate has recorded a 0.5 percent increase from 7.7 percent recorded last month to 8.2 recorded this month and this has mainly been attributed to the price change in products such as maize grains, Samp, meat products and fruits, Acting Director of Census and Statistics Central Statistics Office (CSO), Goodson Sinyenga has said.
Although the annual food inflation rate has recorded an increase, the annual nonfood inflation rate has recorded a 1.1 percentage point decrease and this has mainly been attributed to the price change of items in the transport CPI main group such include both liquid and solid fuel.
Meanwhile the month on month inflation rate for the month of March has recorded a 0.4 increase from 0.7 percent recorded last month to 1.1 percent recorded this month. This means that on average, prices of goods and services increased by 1.1 between last month and this month and this increase has mainly been attributed to the change in the prices of food and non-alcoholic beverages.
