Zambia Annual Inflation Rate For August 2014 Stable At 8.0 %

Zambia-Inflation-August-2014

According to the August 2014 Monthly Bulletin released by the Zambian Central Statistical Office (CSO), the country’s annual inflation rate didn’t move from July to August and maintained itself at 8.0 %.

The 8.0 % refers to the Zambia Consumer Price Index (CPI), which measures changes over time in the general level of prices of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2009 (base year 2009 =100).

Between August 2013 and August 2014, the annual rate of inflation increased for Food and Non-Alcoholic Beverages; Clothing and Footwear; and Recreation and Culture.

The annual rate of inflation decreased for Alcoholic beverages and Tobacco; Housing, Water, Electricity, Gas and Other fuels; Health; Transport; Education; Restaurant and Hotel; and Miscellaneous goods and services.

CSO Director John Kalumbi, who presented the report, said that of the total 8.0 % inflation rate, Food and Non-Alcoholic Beverages products accounted for 3.6 % while Non-Food products represented the other 4.4 %. 

The annual Food inflation rate was 7.0 % increasing by 0.1 % compared to July 2014, while the annual Non-Food inflation rate decreased by 0.1 % during the same period, being recorded at 9.1 %. 

The total monthly inflation rate decreased from 0.8 % in July 2014 to 0.7 % in August, 2014, decreasing by 0.1 %.

The monthly Food inflation rate for August 2014 was 0.9 % compared to -0.1 % in July, 2014; while the monthly Non-Food inflation rate for August, 2014 was 0.4 % compared to 1.6 % in July, 2014.

Mr Kalumbi also announced that the CSO would officially launch the Zambian National Strategy for the Development of Statistics (NSDS) on September 2nd 2014, as well as have a meeting with stakeholders for the draft of the Statistics Bill 2014 on September 3rd.

The NSDS will establish an integrated National Statistical System (NSS) which will yield a comprehensive national statistical database to ensure reliable, comprehensive and harmonised statistical information in the country.

Zambia-Annual-Inflation-2014-August