Zambia's annual inflation increases to 7.8 pct in May

LUSAKA, May 31 (Xinhua) -- Zambia's year-on-year inflation increased to 7.8 percent in May from 7.4 percent recorded in the previous month, its statistics agency said on Thursday.

"This means that on average prices of goods and services increased by 7.8 percent between May 2017 and May 2018," Goodson Sinyenga, acting director of the Central Statistical Office (CSO) told reporters during a press briefing.

He attributed the increase in the annual inflation to price movements in food and transport.

According to figures, the year-on-year annual food inflation rate was recorded at 6.9 percent compared to 6.5 percent the previous month, indicating an increase of 0.4 percentage points while the year-on-year annual non-food inflation rate for May was record at 8.9 percent from 8.4 percent recorded last month.

The country also recorded an increase in the month-on-month inflation to 0.6 percent in May from 0.4 percent in April, he added. Enditem