Zambia President Hakainde Hichilema announced that the country has recorded continued downward trend in the inflation rate.
The overall annual inflation for May 2022 decreased to 10.2% from 11.5% recorded in April 2022 while Annual food inflation for May 2022 was recorded at 12.3% compared to 14.1% recorded in April 2022.
The inflation rate is expected to reduce to a single digit by the end of the year.
Meanwhile, the reduction in inflation rate does not translate into reduced prices of goods and services.
