Zambia’s inflation rate for March drops to 7.5 percent-CSO
Written by Millennium on April 2, 2019
BUSINESS REPORTER writes
The Central Statistical Office (CSO) says the year on year inflation for March 2019 reduce by zero-point three percent from 7.8 recorded in February 2019.
CSO acting Director of Census and Statistics Goodson Sinyenga said the decrease was mainly attributed to fuels, lubricants and solid fuels such as charcoal.
Speaking i in Lusaka when he presented the CSO monthly bulletinMr. Sinyenga also said Zambia recorded a trade deficit of K309 million in February 2019.
In January 2019, the nation recorded a trade surplus of K938 million.
Mr. Sinyenga noted that the decrease in the trade surplus was mainly attributed to the decline in the value of exports.
He has further explained that the year on year quarterly gross domestic product (GDP) estimates showed that the economy grew by 2.5 percent in the fourth quarter of 2018.
Mr. Sinyenga pointed out that was a reduction from growth that was observed in the fourth quarter of 2017 at 3.3 percent.