Zambia’s annual inflation rate for the month of August has reduced from 8.4 percent in July to 8.2 percent, according to the Central Statistical Office.
The decrease for this month’s inflation rate has been attributed to the decline in the food prices. The Central Statistical Office this morning announced that between July 2010, and August 2010, annual inflation rates increased for clothing and footwear, household fuel and lighting, furniture and household goods, medical care, and other goods and services.
The annual inflation rates reduced for beverages and tobacco, transport and communication, and recreation and education. Of the total 8.2 percent, annual inflation in August 2010, food products in the consumer price index accounted for 1.4 percent points, while non-food products accounted for 6.8 percent.
The annual food inflation rate was recorded at 2.9 percent in August 2010 with the decrease being from 4.1 percent in July, 2010. Non food inflation rate was recorded at 13.4 percent in August 2010, with the increase from 12.6 percent in July 2010.
Acting CSO director, John Kalumbi, further revealed that a comparison of retail prices between July 2010 and August 2010 shows that the national average price of a 25 kg bag of white roller meal reduced by 7.1 percent, from k 37, 809 to k 35,137.
The average price of white breakfast meal also reduced by 2.7 percent, from k59,306 to 57,690. Mr. Kalumbi also adds that the national average price of a 20 litre tin of Maize grain increased by 2.5 percent, from 18,567 to k19, 031.
The CSO acting director says that the national price of 1kg of tomatoes reduced by 11.3 percent, from 3,607 to 3,201. He added that the national average price of 1kg of dried kapenta also reduced by 2.1 percent, from k 53,748 to k52,621.
QFM
wow! this 0.2 points reduction calls for massive celebrations in our country, its the second best thing to have happened after slice bread. LONG LIVE RB, LONG LIVE MMD
I still reckon there is more we can do as a nation to first develop our GDP and surely our GNP. But alas with a boma ran by RB the only important thing to them is maintaining power-even when out of touch with the people.
Am afraid BoZ is the only institution taking inflation serious in Zed. This is however suppose to be everyone’s issue, more so the government…the current movement in the rate is however appreciated but too little considering the promise Zed has-my humble opinion.
… August 2010 shows that the national average price of a 25 kg bag of white roller meal reduced by 7.1 percent, from k 37, 809 to k 35,137.
Absolutely smashing!! This is awesome. the hour is indeed working. But I guess this information is too advanced for PF cadres to simulate and you will see how their brains with limited vocabulary will crash and start spewing insults left right and center. If you are near such a cadre just reboot their small brains.
People ought to understand how evil and debilitating inflation can be to the poor . Call me a hawk but inflation is an evil that ought to be fought with all the tools necessary and the best tools is high productivity and high competition. Some of our people still keep money at under the bed. Lets protect them.
This is great news. We are still in the single digits. What a great record.
This will surely bring about confidence in the financial sector. Hopefully soon the financial sector adjusts to the inflation rate recorded over the past few months.
Well done.
we will be eating numbers now
Let the numbers translate into meaningful reductions,
1. Bank Interest rates should be lowered.
2. Prices of essential comodities like Fuel , food items should also came down with meaningful amounts.
3. lets feel it, not only figures are we eating figures!!!!!!!!!!!
How many times have we been reading about this the same nosense of inflation being reduced under MMD? has it changed anything. we keep on suffering? continue dreaming!!!!!!!!!!!!!!!!!!!!!!!
Kalumbi and the Bicycle……………….which transport costs reduced !!!!?????:-?
GREAT NEWS INDEED.IN MODERN ECONOMICS YOU MEASURE USING NUMBERS.THIS RB IS A LUCK MAN. ALL GOOD THINGS ARE FOLLOWING HIM.I AM “JEALOUS” ABOUT THIS.VABWINO VONSE VILI MBWEMBWEMBWE.OOHO! THATS WHY HIS CALLED MUBWEZENI MU GRZ ALETE CHITUKUKO!
How come am not feeling it? Why is it even harder for me to survive with the income I’ve been earning?
Yah am with u,people are still suffering and this inflation thing is meaningless.
#6 and 7, MMD cadres like 3 and 4 have no sound judgment like yours which seeks to give merit where ist due. Ever since did zambians appreciate lip service as economic growth? What does this claim profit these MMD thurgs when they carders cant afford basic goods and services such as ubunga? Why should ubunga cost over k30,000? If gvt was not sleeping during all this 20 years they have been in power they could have atleast maintained the status Kaunda left. Not improving, just maintaining. But I will be asking for too much from these MMD thiefs and carders. Its high time that Zambians given themselves a Gvt that will bring real and not norminal development. The hour is coming next year, VIVA Pact
Obviously this is all jargon to our friends the PF/kaponyas.
Please ba Zambia mulepenta imisebo! What is wrong with us?
I like the picture. The story you can keep….!!!
Bootlicker, go to Mtendere or Chimwemwe and tell the people you have reduced mealie meal by One pin and see how fast you will get out of there!! We have to be sincere and stop taking the long suffering Zambians for granted. Your MMD govt has just increased electricity tarrifs by over 40%, fuel prices increased by over 18% only three months ago not to talk about the subsequent increments in transport charges which has spilled over to food stuff like relish and the rest. These are the figures that directly impact on someone’s pockect. You think we will be living on nshima alone? Lets be serious DELETED
let it continue reducing so that it increases just before erections, i will be on top.
Just as I predicted, anyway let me take you on. First #12 Where did you do your economics? Matero University. You expect the price of mealie meal to be the same as it was 20 years ago in the name of maintaining where KK left. Really are you serious? Did you think about what you just said? Name me a commodity in any currency that is still costing the same price over the last 20 years and we shall debate.
#16 a Journey of a 1000 miles begins with a mile. We are moving in the right direction , and sorry no 90 days economic miracle utopia you expect. It has not worked even in PF controlled councils. We are making progress.
You call taking one little step forward and 10 giant leaps backward as “making progress’? Your logic shocks me. The overall feeling is that we are worse off today than we were yesterday and there is little hope for the suffering masses. Lick all you want but know that people are not licking what your are licking.
so ****ing what it doesnt make a difference
If only the inflation figurez can be understood, appreciated and their immediate benefit clearly realized by the people of Zambia.
Bet we may even get to below 5% inflation rate and people still won’t “see” the trickle-down effect.
The one amazing thing about America is the culture of the start-up business. I see that energy in Nigeria and Ghana too. In Zambia every one’s dream is to get a job. This blog is supposed to be buzzing with ideas about starting out and wealth creation and requesting government to supprt incubation of small businesses. Instead the blog is full of wimps who think Michael Sata will come and feed them. Change your mind set.
A reduction in inflation rate that does not see an increase in jobs for our people is total nonsense for a cash economy like Zambia. No# 23 is talking about small businesses, but what has your government done to small businesses in Kitwe and Ndola that use to work for the mines? Overburdened them with taxes while the foreign investors get waivers. You are giving an example of America, but what did that government do with the stimulus money? They gave priority to their own people and their own communities so that the money stay in the country. Your man in states house is dishing out jobs and contracts to outsiders who flee with money leaving nothing to circulate in our so called economy. He has weakened the police and the judiciary allowing only his sons and those he knows to do business!!
PF kaponyas will remember these days if their man gets in and inflation is as high as Zim’s. A reduction in the price of mealie meal is a good thing. A family buys more than one bag of mealie meal a year which means that a reduction of 10 pin in a year amounts to something. If the figures had gone up by one percent, the same PF kaponyas would have been using the figures to damn the RB administration. You cant have it both ways. It is the same with the judiciary. When a ruling is in favour of the opposition then the judiciary is great but when a ruling is against the opposition then they have been bought. Whether you like it or not these figures are used the world over to assess economic performance so on that score RB is doing well and long may he continue to do so.
Good Evening
I fully agree with all you guys (especially those on the ground) saying that such news is meaningless if the improvement is not being felt. The majority of Zambians don’t even understand what inflation is – is there a native word for it? At least not in my Bemba vocabulary!
#23 Nkole Wa Mapembwe… you start out with a very good argumentation but then spoil it all with your last sentence. Michael Sata is also a Zambian who loves Zambia just like all of us. I wish we could refrain from breathing malice on every occasion that presents itself.
#23 NKOLE WA MAPEMBWE UMFWE MILANDU
So buzzing with ideas means agreeing with everything this Government is doing huh Mr Nkole? You talk about Ghana and Nigeria when we’re not in the same league in terms of democracy and Governance, they are making huge strides economically because they are democratising their countries at the rate we can only dream about. What we have is a thick head at state house with no plan of improving our wellbeing and whose only pre occupation is flying around expecting chicken and chips at every airport he stops over.
Only a retard would celebrate a 0.2 point reduction when we all know next the movement will definately be upwards one by at least a whole point.
So Mr Nkole probably you are on a wrong blog, this site is not for general dealers.
Whether we like it or not there is alot of untold suffering in Zambia, 80% people in poverty! Such kind of reporting should not be brought to our attention as it is insignificant! Please give us tangible results and not talk and cooked up figures! One does not need to go to university to know that statistics can be manipulated!
We need to increase/broaden our statistics. at what point do we factor in real estate. the cost of accommodation rentals and property prices are neve factored into anything. all we do is look a monthly inflation (never annualized)
I see people have misunderstood the relevance of inflation figures. I will let you dive in your ignorance.
What is inflation reduction to a grass ‘rooter’ like me if all we have are expatriates who can not even paint the ceiling board. Where are our Zambian labour laws … or do we even have some? The chaps are just too many of them in Ndola; we are tired of them.:o
Are we going to continue begging white foreign nationals to run our nation? So how much is a dollar to a Kwacha right now?
awe wot a day today. i finally managed to bonk ba boss. chi suma chi boss, chalikwata amatako.mmmm yes!! productive day mwe.
Just for the record, going from 8.4% to 8.2% inflation rate is literally like going from failing with 54 points pa grade 12 to failing with 53 points; point is we are still failing miserably. The heading should have been “Zambia still faced with over 8% inflation rate!” I guess there is a difference between reaching for the sky and rolling in the mud. Our politicians insist on promoting mediocrity and so do their pompous non-intelligent supporters blogging about being highly educated while exposing their shallowness.
This is all hogwash. Nothing is changing for the better for the poor man/woman on the street. Prices keep going up an some chap claims inflation is coming down.
Then why is the price of sugar sky rocketing?
#21 – Let me endeavour to explain to you the meaning of inflation in a layman’s language:
It is simply a measure of the rate of change in prices, of household consumption goods and sevices (the basket), over a period of time. It could be year on year, month on month etc. The basket may contain mainly goods and services with a bigger weight on a good sample of household budgets (food, rent, alcohol and beverages etc).
So this economic indiactor, doesnt necessarily tell you whether the price of mosi or tujilijili should go up or down or that the economy has picked, NO!
I hope this will help in understanding what inflation is.. kwasila for now.
reboot PF small brains….
:d:d:d\:d/\:d/
#27 Please ask someone who has been to Nigeria or Ghana lately, you will probably get a sense of what you are talking about. Democracy?? in Nigeria, perhaps Ghana, but please speak to someone who has recently been there (one or two months ago), I will not tell you because you will think that am biased. We have some form of Democracy in Zambian and it is great under the circumstances..
lower inflation figures should translate into meaningful benefits such as low prices for goods and services and affordability.