Zambia: Inflation continues to decline

  1. Posted on Thursday 28 January 2010 - 12:25
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    Pennipher Sikainda, AfricaNews reporter in Lusaka, Zambia
    The Zambian annual rate of inflation for the month of January 2010 has recorded a decline of 0.3 percentage points and now stands at 9.6 percent.
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    The Central Statistical Office has attributed this reduction to the 3.6 percentage point decrease in some food prices while non-food products in the consumer price index accounted for six percentage points.

    Presenting the latest statistics, Deputy Director for Information Survey and Dissemination at the C.S.O, John Kalumbi has however disputed claims that reduction in the inflation is cosmetic.

    Kalumbi further indicates that the annual food inflation rate for Zambia is at 7.1 percent which registers a decline from 8.0 percent in December 2009.

    The C.S.O. said the food inflation decrease is mainly due to the reduced cost of fresh vegetables, fresh fruits, oils and fats although he states that the marginal increases in the price of mealie-meal, maize grain and cereal products have had little effect.

    Meanwhile, Zambia has recorded a trade surplus valued at 179 trillion kwacha (about $40bn) for the respective period under review with the major items being intermediate goods, raw materials, consumer goods and capital goods.

    On exports, Zambia’s major export products in December 2009 were from the intermediate goods category accounting for 80.7 percent comprising mainly cathodes and sections of refined copper, plates, wire and sheets of refined copper an artless of cobalt.

    Raw materials were rated second in Zambia exports for November and December 2009 were as consumer goods and capital goods follow accounting for 7.1 percent of the total exports.

    The main export destinations for Zambian products are Switzerland, china, South Africa, DR Congo and the united kingdom.

    The CSO said southern African country’s main export products to the outlined countries also include cathodes, refined copper and plates among others.

    And on imports, the Central Statistical Office has indicated that machinery, flat rolled iron steel; zinc plated coats, structures and parts of structures, iron, parts of pumps for liquids and paper and paper boards have been the main imported items for Zambia accounting 36.3 percent.

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