By JUDITH NAMUTOWE –

ZAMBIA’s inflation rate has increased by more than one per cent, recording 22.9 per cent in February up from 21.8 per cent in January this year.
The annual rate of inflation, as measured by the Consumer Price Index (CPI)  for February,  rose  to 22.9 per cent compared to  21.8 per cent  recorded in January.
Central Statistical Office (CSO) director of census, John Kalumbi said on average, prices increased by 22.9 per cent between February 2015 and February 2016.
Mr Kalumbi attributed the increase in the annual rate of inflation to both food and non-food items.
Of the 22.9 per cent annual inflation rate recorded in February 2016, food and non-alcoholic  beverage products accounted for  13.7 percentage  points, while non-food  products accounted for  9.2 percentage points.
He said the annual food inflation rate for February this year was recorded at 26.4 per cent  compared to 25.9  recorded in January  this year,  indicating  an increase  of 0.5 per cent.
The annual non-food inflation rate for February increased to 19.1 per cent from 17.4 per cent recorded in January, indicating a rise of 1.7 per cent.
“The increase in food inflation was mainly attributed to price increases of imported rice, bananas, groundnuts, rape, tomatoes, spinach, Irish potatoes and sugar.
“On the other hand,  the increase in non-food inflation was mainly attributed to increases in the prices of water and sewerage charges,” Mr Kalumbi said.
He said a comparison of retail prices between January and February, indicates that  the national  average  price of  a  25 kilogramme bag of breakfast mealie-meal went up by 1.22 per cent, from K82.48 to K88.49.
The national average price of  a 25 kg roller meal  increased by 0.14 per cent from K66.22 to K66.31, with the average price of a 20 litre tin of  maize grain rising by 4.08 per cent,  from K41.19 to K42.87.
Mr Kalumbi explained that in terms of provincial contribution, Lusaka recorded the highest contribution of 6.4 per cent to the overall annual rate of inflation of 22.9 per cent recorded in February this year.
“This implies that price movements in Lusaka Province have the greatest influence on the overall annual inflation rate,” he said.
Mr Kalumbi said Lusaka was followed by Copperbelt Province  which recorded the second highest  provincial contribution of  4.3 per cent, while North-Western and  Western provinces had the lowest contribution of 0.9 percentage points each.
And Zambia has recorded a trade deficit value at K172.6 million in January this year.
Mr Kalumbi said this represents a 76.7 per cent decrease in trade deficit from  K739.5 million recorded in December last year.