offer home loans. third, the issue of high interest rates necessitated by among other things high inflation levels in zambia. as at end december 2005, annual inflation was at 15. 9 % and is expected to go down further. fourth, the issue of poor credit culture among our people. again i am happy to inform you that the central bank in partnership with the bankers association of zambia are in the process of developing credit reference bureau guidelines and will in the near future issue licences to deserving companies. lastly, but not the least, the issue of lack of an effective secondary financial market in zambia is being addressed with commencement of work on the financial sector development plan ( fsdp ). let me join the honourable minister of finance in wishing barclays bank zambia plc the very best of success with the launch of the home loan product. i thank you!!

the eu and at aggregate level also for a couple of countries outside of the eu. bis central bankers ’ speeches the fall in inflation is broad a closer examination of developments in sweden shows that the fall in inflation is broad and not caused by any individual component. we have already noted that inflation measured in terms of the cpi, the cpif and the hicp is low, compared with both the inflation target and other countries. this also applies to measures of underlying inflation, that is, measures where one tries by various means to take into account that some prices vary a lot and may temporarily influence the cpi. 3 regardless of which measure one looks at, it is clear that underlying inflation has shown a falling trend since 2012 or earlier. price developments for sub - groups behind the cpi measures show a similar picture ( see figure 3 ). 4, 5 over the past two years, goods prices have fallen somewhat faster than normal. prices of services have increased more slowly since the beginning of last year. this see figure a1 in the appendix. trim85 is a measure that excludes the prices that have varied most and least. und24 is a measure that weighs together the prices included in the cpi in a different way – the prices that have varied the most in historical terms are given the lowest weighting, and vice versa. please note that there has not been time to update the figures i show here with the inflation outcome for april published by statistics sweden yesterday. cpi inflation then rose to 0 per cent, that is, prices in april were unchanged in relation to april 2013. normally, one divides the cpi into prices of energy, foods, goods ( excluding energy and foods ), services and interest expenditure. one reason for this particular division is that energy and food prices met by consumers are to a large degree influenced by developments in commodity prices on the global market. it may thus be interesting to study the sub - groups separately. the component in the cpi that measures interest expenditures is also special, as it is affected by the riksbank ’ s changes in the repo rate. it is for this reason that, in addition to the cpi, the riksbank also looks at the cpif measure, in which interest rates are fixed and not allowed to vary. figures a2 and a3 in the appendix show the developments in prices in recent years for goods, services, energy and foods. bis central bankers ’ speeches development has generated some attention, as the rate of increase in service prices was relatively stable during the years