Zambia Inflation Rate Unchanged at 7.3% in July: Agency

Zambia’s inflation was unchanged at 7.3 percent in July, the Central Statistics Office said.

Price rose 0.7 percent in the month, John Kalumbi, director of the agency, told reporters in Lusaka, the capital.

The Bank of Zambia has raised the benchmark interest rate for the past two months to curb prices as the government removed subsidies for fuel and corn farmers. Inflation will probably end the year above the bank’s 6 percent target, Isaac Ngoma, president at the Lusaka-based Economics Association of Zambia, said on July 17.

To contact the reporter on this story: Matthew Hill in Lusaka at mhill58@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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