Zambia: Inflation declines to 6.5 per cent
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.
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