Advertise with

Zambia: Inflation up 0.3 p.c.
Zambia: Inflation up 0.3 p.c.

Zambia: Inflation up 0.3 p.c.

FMCG SUPPLIER NEWS - Jun 28th, 12:11

Zambia’s inflation rate has increased by 0.3 percentage points from seven per cent recorded in May 2013, to 7.3 per cent this month, while the country has recorded a trade surplus valued at KR267.8 million. 

Central Statistical Office (CSO) acting director Peter Mukuka said the annual rate of inflation, as measured by the all-items Consumer rice Index (CPI) had gone up by 0.3 percentage points, from seven per cent recorded in May to 7.3 per cent recorded in June 2013.

This means that on average, prices increased by 7.3 per cent between June 2012 and June 2013”

The rise in the annual inflation rate was attributed mainly to increases in food prices and some non food items.

Speaking during the briefing in Lusaka this week, Mr Mukuka said that of the 7.3 per cent annual inflation rate recorded in June 2013, food products accounted for 3.8 percentage points, while non-food products accounted for a total of 3.5 percentage points Mr Mukuka said the annual food inflation rate was recorded at 7.1 per cent in June 2013 compared to 6.3 per cent in May, 2013.

This represents a 0.8 percentage point’s increase in annual food inflation. The annual non-food inflation rate decreased by 0.2 per centage points from 7.8 per cent recorded in May 2013 to 7.6 per cent recorded in June 2013.

Mr Mukuka said Lusaka made the largest provincial contribution of 2.3 percentage points to the overall annual inflation rate of 3 per cent recorded in June 2013, followed by the Copperbelt which contributed 1.4 percentage points.

The lowest contribution came from North-Western and Luapula provinces of 0.3 percentage points each.

The comparison of retail prices between May and June 2013 shows that the national average price of a 25kg bag of breakfast mealie meal increased by 2.1 per cent from KR58.17 to R59.41.

While the national average price of a 25kg bag of roller mealie meal increased by 0.2 per cent from KR44.89 to KR44.97.

The national average price of a 20 litre tin of maize grain decreased by 10.0 per cent from KR25.15 to KR22.64 between May and June 2013,” he said.

And Mr Mukua said Zambia recorded an increase in the trade surplus valued at KR267.8 million in May 2013 from KR329.5 million recorded in April 2013.Mr Mukuka said this means the country exported more in May, 2013 than it imported in nominal terms.

The country has continued to record trade surpluses since January 2013 with the highest valued at KR329.5 million recorded in April 2013 and the lowest trade surplus was recorded in February 2013, valued at KR133.2 million.

Zambia’s major export products in May were intermediate goods category mainly comprising copper cathodes and sections of refined copper accounting for 69.8 per cent. 

Read more about: zambia | trade surplus | mealie | inflation | exports

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.

Meatco and Witvlei bid for Norwegian meat quota, Namibia
22/10/2013 - 08:31
Meat processing companies, Meatco and Witvlei Meat, have once again bid for the lucrative beef export quota to Norway, which is set at 1600 tonnes per year and pays 72% more than exports to other parts of Europe. Earlier this month, the Meat Board of Namibia requested for bids for the Norway quota from local meat companies.

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.