August 30, 2012 / 9:19 AM / 6 years ago

Zambia's Aug inflation quickens, food prices up

LUSAKA (Reuters) - Zambia’s August Inflation accelerated to 6.4 percent year-on-year from 6.2 percent in July, driven higher by food prices, the Central Statistical Office said on Thursday.

A vegetable vendor sits next to her stall in Kliptown, Soweto October 24, 2008. REUTERS/Siphiwe Sibeko

Food inflation quickened to 7.3 percent in August from 6.3 percent in July, CSO data showed.

The price of the staple maize meal increased by 2.4 percent and that of dried fish rose by 7.6 percent between July and August.

Zambia’s inflation will remain around 6 percent in 2012 in line with the government’s target of 7 percent, the International Monetary Fund forecast last month, urging the government to remain vigilant on price pressures and tighten policy if needed.

Zambia recorded a trade surplus valued at 383.2 billion Zambian kwacha in July from another surplus of 163.0 billion kwacha recorded in June, the CSO also said on Thursday.

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