Zambia’s inflation rate drops
Zambia’s annual inflation slowed in October, official data showed on Thursday.
The Central Statistical Office (CSO) said in a statement that the drop was largely driven down by a decrease in non-food costs.
It said that inflation dropped to 7.3 percent year-on-year in October when compared with 7.7 percent in September.
Zambia, which is Africa’s largest copper producer, had targeted inflation of 8 percent by year-end.
But the Bank of Zambia govenor, Caleb Fundanga, told Reuters on Thursday he was confident a December print would be lower.
“Food inflation is well under control because of the good production of food,” he said.
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