July Inflation drops from 15.9% to 15.8 %

Zambia’s July Inflation dropped by 0.1% from 15.9% in June, increasing the the annual inflation rate to 9.7 percent in July 2020 from 5.8 percent in July 2019.

The Zambia Statistics Agency has attributed the development to a faster increase in the average prices of goods and services in 2020, than was the case in 2019.

However, the Zambia Statistics Agency says the rate of inflation between the months of July and June 2020 has decreased.

The inflation rate for July 2020 slowed down to 15.8 percent compared to 15.9 percent in June 2020.

The status quo is due to the decrease in the prices of food items.

Meanwhile, the Zambia Statistics Agency says Zambia’s international trade decreased by 0.8% in June 2020, in contrast with May 2020.

The agency says the value of Zambia’s International Trade in June 2020 stood at over 17,072,000 Kwacha against 17,205,000 Kwacha in May 2020.

The Zambia Statistics Agency further said that the country’s Copper exports stood at 11.5% in June 2020.