ECONOMIST OPTIMISTIC OF SINGLE DIGIT INFLATION NEXT YEAR

Economist, Chibamba Kanyama has projected annual inflation rate in the 7.9 per cent average range by next.

According to the REUTERS website, Mr Kanyama, who is also Zambian Breweries Corporate Affairs Director, has further forecast a stable inflation rate as this year winds up.

This is despite the usual projected huge consumption rate in the final month of this year therefore basing the stable inflationary pressure on reduced maize prices.

Government has recently ordered the sale of excess maize stocks at a reduced prices due to lack of storage capacity.

Meanwhile, the November monthly inflation rate reduced to 8.1 percent in November from 8.7 percent in October.

The Central Statistical Office has attributed this to the minimal reduction of pump prices for petroleum products.

The Zambia statistics agency also disclosed a trade surplus of 187.5 billion kwacha for the month of October, up from that recorded in September.