Zambia’s annual rate of inflation rise by 0.2 percent


Zambia’s annual rate of inflation as measured by the all items Consumer Index (CPI) has risen by o.2 percent from the December 2013’s 7.1 percent to 7.3 percent recorded January this year.

Out of the 7.3 percent annual inflation rate in January this year, food and non alcoholic beverage products accounted for 3.1 percentage points, while non-food products accounted fro a total of 4.2 percentage points.

Central Statistical Office (CSO) Director John Kalumbi has disclosed at media briefing held in Lusaka this morning that the annual food inflation rate for January 2014 was recorded at 5.9 percent compared to 6.2 percent recorded in December 2013.

Mr. Kalumbi also notes that annual non-food rate increased by 0.6 percentage points from 8.2 percent in December 2013 to 8.8 percent in January 2014.

And Mr. Kalumbi has also disclosed that the country has recorded a trade surplus valued at K161 million in December 2013 compared the trade surplus of K6 million recorded in November 2013.

Mr. Kalumbi furthermore notes that Zambia’s major export products in December 2013 were from the intermediate goods category mainly comprising copper cathodes and sections of refined copper accounting to 85.3 percent.

Meanwhile the CSO has projected that the population of Zambia is expected to grow at an average rate of 2.7 percent per annum in the period from 2011 to 2020.
Mr. Kalumbi has explains told journalists that in 2010, the population of Zambia was recorded at 13, 092, 666 from 9, 885, 591 recorded in 2000.

Mr. Kalumbi says the population of Zambia is expected to double to 26, 923, 658, 658 by the year 2035.

Mr. Kalumbi states that data shows that both male and female populations are expected to increase from 6, 454, 647 and 6, 638, 019 in 2010 to 13, 319, 362 and 13, 604, 296 in 2035 respectively.

He adds rural areas are expected to continue having a large population compared to urban areas and that the population for rural areas is estimated to increase to 14, 498, 429 in 2035 while that of urban areas will be 12, 425, 229 in the same year.