ZAMBIA'S FOREIGN RESERVES INCREASE AS INFLATION ALSO RISES

Zambia foreign reserves have increased to 2.43 billion dollars, from 2.34 billion dollars, over-shooting the 3-months time frame of import cover.

This is according to the Standard chartered bank’s latest bulletin.

And the international commodity prices log has reportedly quoted copper at 7,419 dollars per tonne, up from 7,374, despite China retreating from physical buying.

According to the latest Standard Chartered bank bulletin, Chinese users are hoping that the copper prices will reduce in the advent of reduced demand.

Meanwhile, rises in food prices have contributed greatly to June’s month-to-month inflation rate of 6.7 per cent in Zambia.

This is in a point one percentage rise from 6.6 recorded in May.

The Central Statistical Office has disclosed this in the capital, Lusaka.

And in international trade, Zambia has recorded a surplus valued at 278.3 billion kwacha for the month of May, compared to 129.6 billion kwacha for April.