ZAMBIA’S annual inflation rate rose to an almost two-year high amid the ongoing depreciation of its currency, piling pressure on monetary policymakers to act when they meet next month.
The consumer price index jumped to 13,2 percent in January, compared with 13,1 percent the month before, Statistician-General Mulenga Musepa told reporters in Lusaka, the capital, on Thursday. Monthly inflation quickened to 2,1 percent, the fastest pace in a year.
The kwacha has weakened around 34 percent against the dollar since July and is among the world’s worst performing currencies so far this year, despite various policy measures to halt its slide. BLOOMBERG