.gif "Cash Connect")
Zambia: Inflation declines to 6.5 per cent
FMCG SUPPLIER NEWS
Times.co.zm - May 9th, 11:42
ZAMBIA’s inflation rate for this month has slowed down by 0.1 per cent to 6.5 per cent from 6.6 per cent in March, while the trade surplus has gone up to KR307.7 million.
Central Statistical Office (CSO) director John Kalumbi said the annual inflation rate as measured by the all-items consumer price index (CPI) had declined mainly due to decreases in prices of non-food items.
“This means that on average, prices increased by 6.5 per cent between April 2012 and April 2013,” Mr Kalumbi said.
Mr Kalumbi said of the total 6.5 per cent annual inflation rate recorded in April, food prices accounted for 3.2 percentage points, while non-food products accounted for a total of 3.3 percentage points.
In terms of provincial contributions, Mr Kalumbi said Lusaka made the largest provincial contribution of 1.9 percentage points to the overall annual inflation rate of 6.5 per cent recorded in April, followed by Copperbelt Province which contributed 1.6 percentage points.
Luapula, North-Western and Western provinces had the lowest contribution of 0.2 percentage points each.
A comparison of retail prices between March and April 2013, showed that the national average price of a 25 kilogramme of breakfast mealie-meal increased by 4.1 per cent from KR55.77 to KR58.16.
The national average price of a 25 kilogramme bag of roller meal increased by 0.4 per cent from KR42.53 to K44.29.
Mr Kalumbi said the national average price of a 20 litre tin of maize grain decreased by 0.3 per cent from KR27.02, while the national average price of 1 kilogramme dried Mpulungu Kapenta decreased by 9.5 per cent from KR84.09 and the average price of cabbage increasing by 5.1 from KR2.14 to KR2.25.
He said Zambia recorded an increase in trade surplus value of KR307.2 million in March 2013 from KR133.2 for February.
This means that the country has continued to export more than it imports in nominal terms.
Mr Kalumbi said for this year the country record trade surpluses since January with the highest valued at KR307.2 million recorded in March and the lowest was in February valued at KR133.2 million.
Related News
SA consumer inflation rate falls
24/10/2013 - 12:05
Johannesburg - South Africa’s inflation rate fell from the highest level in four years to 6 percent in September.
Shoprite operating normally, license intact - minister, Zambia
22/10/2013 - 09:30
Minister of Labour and Social Security, Fackson Shamenda, says Shoprite is operating normally and its operating licence is still in force.
UNZA shopping mall to cost K248m. Zambia
22/10/2013 - 09:06
The construction of a shopping mall to be the property of the University of Zambia (UNZA) Great East Road campus will cost K248 million.
China’s consumer inflation rises
21/10/2013 - 10:58
hina's consumer price index (CPI), a key measure of inflation, climbed to 3.1 percent year-on-year in September, the government has said.
SA’s GDP growth likely to stay at 2.0%
18/10/2013 - 09:14
Johannesburg - The softer global economy and weak domestic business and household confidence are expected to keep South African GDP growth at 2.0% this year with a marginal pick-up to 2.8% in 2014.
