Zambia’s inflation rate drop by 0.9 percent
The Zambia annual rate of inflation has reduced by 0.9 percentage points from 14.0 percent in February to 13.1 percent in March 2009.
Speaking in Lusaka today at the monthly CSO media briefing , Central Statistical Office (CSO) Director Elfreda Chulu said the reduction in the annual rate of inflation for the month of March due to the decline in the prices of food products.
Ms Chulu cited reductions in the prices of food products such as Kapenta, fish, fresh vegetables, alcoholic beverages, tubers, dried beans, cooking oil shelled groundnuts among others.
She added that the annual inflation rates reduced for furniture, households goods, recreation, education and other goods and services.
Meanwhile, she also disclosed that prices for non food products such as clothes, footwear, rent and households energy, transport, (air fares and cost of motor vehicles) and medical care services increased.
She explained that of the total 13.1 percent annual inflation rate of month of March food products accounted for 6.8 percent points, while non-food products in the consumer Price Index (CPI) accounted for total of 6.3 percentage points.
Ms Chulu also explained that this month’s annual food inflation rate has recorded a 13.9 percent drop from 16.3 percent in February 16.3 percent in February 2009.
She said the annual non-food inflation rate stood at 12.3 % in March 2009, up from 11.7 % in February 2009.
Ms Chulu explained that a comparison of retail prices between February and March 2009 shows that the national average price of 1 Kilogram (KG) of dried Kapenta reduced by 31.1 percent, from K37, 044 to K25, 3357, while that of average price of 1Kg tomatoes reduced by 11.3%, from K3.107 to K2, 756.
And the average national price of a 25 Kg bag of white breakfast meal increased by 5.9 from K53, 576 to K56, 751 while that of roller meal increased by 5.3 %, from K43, 832 to K46, 156.