Central Banking

Zambia October annual inflation up to 28.6%

Zambia's annual inflation rose to 28.6% in October from 27.7% in September and 25.9% in August, the Bank of Zambia said on Thursday. The figure was higher than the October inflation rate of 24.3% given by the Treasury earlier in the week.

The Central Statistics Office said the increase in the global price of crude oil, increases in electricity tariffs and expansion in money supply was to blame for the increase. The government initially set an inflation target of 15% for 2000, revised it to 19%

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