Zambia Inflation Rate Increased to 17.4% in November 2020

Zambia Inflation November 2020

The Zambia Statistics Agency (ZamStats), indicates that the Year-on-Year Inflation Rate for November 2020 increased to 17.4% from 16.0% recorded in October 2020.

The increase in the annual rate of inflation was attributed to price increases in both food and non-food items.

Year-on-Year Food and Non-Food Inflation

The year-on-year food inflation rate for November 2020 was recorded at 16.8% compared to 14.6% recorded in October 2020.

The increase of 2.2% was mainly attributed to an increase in prices of food items such as Vegetables (Rape, Pumpkin leaves, Dried beans, Tomatoes), Meats (Fillet, Rumpsteak, Brisket, Mixed cut), Chicken, Fats & Oil (Margarine, Butter, Cooking Oil) and Sugar.

The year-on-year non-food inflation rate for November 2020 was recorded at 18.2% compared to 17.7% recorded in October 2020.

The increase of 0.5% was mainly attributed to Purchase of vehicles.

Month-on-Month Inflation

The monthly inflation rate for November 2020 was recorded at 2.2%. This is an increase of 0.9% from 1.3% recorded in October 2020.

The increase in the monthly inflation rate was attributed to general price movements of food and non-food items.

Year-to-Date Inflation

The year-to-date inflation rate was 15.6% in November 2020, higher than that of the corresponding period in 2019 of 10.0%.

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