Zambias September annual inflation rose 30bps (3%) to 6.6% as announced by the Central Statistics Office – CSO in Lusaka today. The rise was attributed to rise in non food prices as the effects of electricity tarrif hike kicked in.
Zambia implemented its second phase of the power rate hike by 25% in the first week of September bringing to total rate adjustment this year to 75%. In the monetary policy note for the second half of the year, the Bank of Zambia forecasts a 7% inflation number at yearend well within the 6%-8% band.
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