Zambia’s inflation drops

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—Zambia recorded a 0.1 per cent slowdown in the annual inflation rate, from 7.0 percent in January 2013 to 6.9 per cent in February 2013.


This is according to the Central Statistical Office (CSO) Monthly Bulletin for February 2013.


Speaking when presenting the bulletin in Lusaka this morning, CSO Acting Director, Goodson Sinyenga, disclosed that on average, prices increased by 6.9 per cent between February 2012 and February 2013.


Mr Sinyenga explained that the slowdown in the inflation rate is mainly attributed to decrease in food prices.


He said of the total 6.9 per cent annual inflation rate in February 2013, food prices accounted for 3.5 percentage points, while non food items accounted for 3.4 percentage points.


Mr Sinyenga revealed that the annual food inflation rate decreased by 0.9 per cent from 7.6 per cent recorded in January 2013, to 6.7 per cent in February 2013.


He disclosed that a comparison of retail prices between January 2013 and February 2013, shows that the national average price of a 25 kg bag of mealie meal decreased by 5.5 per cent from KR57.56 to KR 54.41.


Mr Sinyenga further revealed that the annual inflation rate for non food items increased by 0.8 percentage points, from 6.3 per cent in January 2013, to 7.1 per cent in February 2013.