Zambia’s Inflation Increased To 21.5% In January

Zambia’s annual inflation rate increased to 21.5% in January, up from 19.2% in December 2020. This time last year, inflation stood at just 12.5% 

The Zambia Statistics Agency attributes the rise in inflation to increased food prices, with January food inflation rising to 25.6%, compared to 20.2% the month previously. Foods which saw the greatest increase in prices included bread, cereals, fish, dried foods and vegetables. 

Lusaka saw the highest increase in inflation this month, contributing 6.1 percentage points to the overall rate. North Western Province recorded the lowest contribution, with just 0.7 percentage points.

Speaking in Lusaka, statistician-general Mulenga Musepa said Zambia had recorded a trade surplus of K6.3 billion in December, however this was down from November’s surplus of 7.2 billion.