• This means that on average, prices of goods and services rose by 15.2 percent between June 2023 and June 2024.
• Annual food inflation rose to 16.8 percent from 16.2 percent in May, 2024.
• Zambia recorded a trade Surplus of K3.0 billion in May 2024 compared to a Surplus of K2.4 billion in April 2024.

Annual rate of inflation for the month of June 2024 has surged to 15.2 percent from 14.7 percent recorded in May, 2024 due to price movements in of both food and non-food items.

Speaking to Journalists during the monthly disemination bulletin, Zambia Statistcs Agency (ZamStats) Statistician General, Goodson Sinyenga said this means that on average, prices of goods and services rose by 15.2 percent between June 2023 and June 2024.

Mr. Sinyenga also revealed that annual food inflation rose to 16.8 percent from 16.2 percent in May, 2024 owing to movements in prices of bread, rice, mealie meal, fresh and dry fish, Kapenta, and fruits among others.

He added that non-food inflation increased to13 percent from 12.7 percent in May 2024, due to the rise in prices of spirits, pharmaceutical products, and other services such as paraffin purchases, diesel, charcoal, and car insurance.

“This means on average, prices of food items increased by 16.8 percent between June 2023 and June 2024. This outturn was mainly attributed to increases in prices of Bread and Cereals, Fish, and Fruits.”

“The index for the Alcoholic Beverages and Tobacco increased by 9.9 percent between June 2023 and June 2024. This was higher than the 6.7 percent recorded in the same month of 2023 and 9.5 percent recorded in May 2024,” Mr. Sinyenga stated.

Mr. Sinyenga further disclosed that of the overall 15.2 percent annual inflation, Lusaka province contributed the highest at 4.0 percentage points followed by Copperbelt which contributed 3.4 percentage points.

“Central and Southern Provinces contributed 1.9 and 1.8 percentage points respectively while Northwestern province had the lowest contribution of 0.4 percentage point,” he added.

Meanwhile, Mr. Sinyenga revealed that Zambia recorded a trade Surplus of K3.0 billion in May 2024 compared to a Surplus of K2.4 billion in April 2024.

He said exports mainly comprising domestically produced goods, increased by 19.9 percent to K27.1 billion in May 2024 from K22.6 billion in April 2024.

“This was mainly on account of notable 20.9 percent increase in export earnings from Intermediate goods mainly Copper anodes.

“Imports increased by 19.5percent to K24.2 billion in May 2024 from K20.2 billion in April 2024.This was mainly as a result of a 30.3 and 29.1 percent increases in import bills of Intermediate goods Cobalt oxides and hydroxides and Capital goods Dumpers for off-highway use, respectively,” Mr. Sinyenga revealed.

He also disclosed that Traditional Exports (TE’s) earnings surged by 22.6 percent to K19.3 billion in May 2024 from K15.7 billion in April 2024, adding that in terms of share in total exports, TEs accounted for 71.1 percent during the month under review.

“Non-Traditional Exports (NTEs) earnings increased by 13.9 percent to K7.8 billion in May 2024 from K6.9 billion in April 2024. In terms of share in total exports, NTEs accounted for 28.9 percent in May 2024,” Mr. Sinyenga said.