May inflation rate remains static at 7.8 percent

The annual rate of inflation for the month of May has remained static at 7.8 percent.

Speaking during a media briefing in Lusaka Thursday 29th May 2014, Central Statistical Office (CSO) Director for Census John Kalumbi says of the total 7.8 percent annual inflation was recorded, food and non-alcoholic beverage products.

Mr. Kalumbi says a comparison of retail prices between April and May , 2014 shows that the national average price of a 25 kilogramme bag of breakfast mealie meal increased by 1.9 percent to K74.77 from K73.37, while a 25 kilogramme bag of roller mealie meal also increased by 1.3 percent to K58.48 from K57.74.

Mr. Kalumbi adds that the national average fuel price of 1 litre of petrol increased by 7.1 percent from K9.94 to K10.65.

He says Zambia recorded a trade surplus valued at K43 million in March 2014 which means that the country exported more in April 2014 than it imported in nominal terms.

He states that Zambian’s major export products in April 2014 were from the intermediate goods category mainly comprising of copper cathodes and sections of refined copper accounting for 82.8 percent.

Mr. Kalumbi says Zambia’s major export destination in April 2014 was Switzerland, which accounted for 38.8 percent and that China was second accounting for 23.3 percent.

He says the annual inflation rate for clothing and footwear, housing, water, electricity, gas and other fuels, furnishings and household equipment, among others, also increased.


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