ZamStats September 29, 2023

Year-on-Year Inflation for September 2023 at 12.0 Percent

Annual inflation for September 2023 increased to 12.0 percent from 10.8 percent recorded in August, 2023. This means that on average, prices of goods and services increased by 12.0 percent between September 2022 and September 2023 (see Figure 3). This development was mainly attributed to price movements of selected food and non-food items.

Figure 3: Annual Inflation Rate, September 2022- September 2023 (%)

Annual Food and Non-Food Inflation

Annual food inflation for September 2023 was recorded at 13.4 percent compared to 12.6 percent in the previous month (see Figure 4). This means on average prices of food items increased by 13.4 percent between September 2022 and September 2023. This outturn was mainly attributed to price movements in Cereals (i.e. Breakfast & Roller meal, Bread flour, Maize grain, Rice and Meats (Mixt cut, Fillet steak, T-bone, Chicken live).

The annual non-food inflation for September 2023 was recorded at 10.1 percent compared to 8.5 percent. This outturn was mainly attributed to increases in prices of non-food items such as Purchase of vehicles (Toyota hilux, Toyota corolla, Nissan Hardbody) and Fuels & Lubricants (i.e. Diesel, Petrol).

Figure 4: Annual Food and Non-Food Inflation, September 2022- September 2023 (%) 

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