August inflation came in at 8 percent as it remained unchanged from the previous month.
There were worries that if Bank of Zambia started open market operations too soon (they did last month), coupled with electricity tariff increments (which took effect July 1st), inflation could run away from them. However, the central bank kept the third quarter policy rate at 12 percent after the August committee meeting.
The July trade surplus shot up by 168 percent to K117.2m from a revised June surplus of K43.8m. This is the first time that the trade surplus has broken the K100m mark since January 2014:
The trade surplus has been boosted by the recent recovery in global copper prices. The commodity continues to bring in more than 70 percent of Forex earnings in Zambia.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *