The country’s annual rate of inflation has reduced by 0.4 percentage point from 14.4 in June 2009 to 14.0 percent in July 2009.
And Central Statistical Office (CSO) has attributed the reduction due to the decline in the prices of food stuffs such as white breakfast mealie meal, roller meal, maize grain, meat, fresh vegetables and sweet and Irish potatoes among others.
Speaking at the monthly bulletin in Lusaka today, CSO Deputy Director William Mayaka explained that the annual non-food inflation rate stood at 13.1 percent (%) in July compared to 14.7 % in June 2009.
Mr. Mayaka noted that a comparison of retail prices between June and July shows that national average price of a 25 Kilogram bag of white breakfast mealie meal reduced by 2.7 % while that of roller meal reduced by 4.3 respectively resulting in a reduction in the consumer price index.
He also disclosed that Zambia recorded a trade surplus valued at K 359.7billion meaning the country exported more in June than it imported in value terms accounting for 71.1% comprising mainly copper concentrates.
Mr.Mayaka further stated that the country’s major import products in June 2009 were from the capital goods valued at K1, 424.6 billion accounting for 39.9 %.
He added that the five major destinations of Zambia’s exports in June were Switzerland, South Africa, China, Democratic Republic of Congo and Egypt.
ZANIS
We don’t eat figures you guys in GRZ and CSO, we need real price reductions.
Let’s hope it keeps on dropping. At least food prices are going down.
Atleast we can also read something positive about zambia.Hope its not theory only.
If those figures are not exerggerated then our economy is booming.I’m glad there haven’t been massive increaments on the price of a bag of mealie meal(25&50kg) in the past few years.Atleast the prices of a bag of mealie meal have been quite reasonable.
This is good news.
Ba Zed, we rely too much on copper! Let’s start exporting more of Agricultural Produce. We have a very fertile land that is unfortunately just partially utilized. please, diversity is essential if the country has to survive in today’s economy.
Wow! As I have always suspected the rate of I flation is tied to mushato. The more food that is produced the cheaper it is, the more diverse our diets in Zambia the less you spend on mealie meal. Here is another solution increase the tax on all alcoholic beverages by 70 percent like Nkama did early this year in Botswana. There is a direct relation between alcohol consumption and the poverty it generates in a nation. I might begin explaining the truths I have acquired about development. Stay blessed my family and to Christ be the glory.