Inflation goes up to 8.1%


ZAMBIA’S annual inflation rate has marginally increased to 8.1 percent in November from 7.9 percent the previous month due to a rise in both food and non-food products.
Meanwhile, international merchandise trade statistics indicate that Zambia recorded a decline in trade surplus valued at K67 million last month compared to K99 million in September this year.
Central Statistical Office (CSO) director of census and statistics John Kalumbi said of the total 8.1 percent annual inflation rate recorded this month, food and non-alcoholic beverages accounted for 3.8 percentage points while non-food products  accounted  for  4.3 percentage points.
Mr Kalumbi said this during a CSO monthly briefing yesterday.  He said that the annual food inflation rate for this month is 7.3 percent showing an increase of percentage points from 7.1 percent recorded last month, representing a 0.2 percentage point increase.
He said the increase in annual food inflation is mainly attributed to an increase in fish and vegetable products.
“The monthly inflation rate for November 2014 was recorded at 0.4 percent compared to 0.1 percent recorded in October 2014, this indicates an increase of 0.3 percentage points,” he said.
A comparison of retail prices between October and November this year shows that the national average price of a 25kg bag of breakfast mealie-meal decreased by 1.1 percent to K70.13 from K70.93  while a 25kg bag of roller mealie-meal decreased by 1.2 percent to K49.41 from K50.01 in the same period.
On international trade, Mr Kalumbi said Zambia recorded a decline in trade surplus from K99.1 million recorded in September to K67 million in October.
“The highest trade surplus valued at K295.4 million was recorded in January 2014 and the lowest trade surplus was in June 2014, valued at 19 million,” he said.
Zambia’s major export products in the period under review mainly comprised copper cathodes and sections of refined copper accounting for 3.8 percent.
Other exports were from consumer goods, capital goods and raw materials which collectively accounted for 16.2 percent of total exports in October.
Zambia’s major export destination in October was Switzerland followed by China.


Zambia Daily Mail