ZAMBIA’S inflation rate fell to a four-month low in June on food prices, and is set to decline further when the impact of a recent rally in the kwacha seeps through.
Annual inflation eased to 9,8 percent, from 9,9 percent in May, Statistician-General Mulenga Musepa told reporters in Lusaka, the capital, on Thursday.
Africa’s first pandemic era-defaulter’s currency, which has whipsawed since March because of delays in clinching a deal to rework external loans, has gained almost 13 percent against the dollar since June 12, just after the statistics office completed its data collection for the consumer price index. – Bloomberg