Zambia’s annual inflation rate for the month of August has declined to 8.3 percent from 9.0 percent in July, 2011.
The decrease in the inflation rate has been attributed to reductions in food and non-food prices, the Central Statistical Office has revealed.
CSO deputy director William Makaya says of the total 8.3 percent annual inflation rate in August, 2011, food products accounted for 2.5 percent, while non-food products in the consumer price index accounted for a total of 5.8 percent.
Mr. Makaya further reveals that the annual food inflation rate was recorded at 5.4 percent decreasing from 5.9 percent in July, 2011.
He says that a comparison of retail prices between July, 2011 and August, 2011, shows that the national average price of a 25 KG bag of white breakfast mealie meal slightly reduced by 0.3 percent, from 47,987 to 47,855.
He adds that the national average price of a 25 KG bag of white roller mealie meal slightly increased by 0.2 percent , from 33,536 to K 33,604.
He says the average price of 1KG of dried kapenta reduced by 5.5 percent from K55,179 to 52,132, while the average price of 1kg of tomatoes reduced by 8.4 percent, from K 4,492 to K4,114.
Mr Makaya however, says the national average price of a 20 liter tin of maize grain increased by 4.2 percent, from K 16,978 to K 17,678.
Zambia also recorded a trade surplus valued at 4-hundred and 40 billion Kwacha representing a growth of 19.7 percent for the month of July.
In June the country recorded 527.3 billion Kwacha surplus which means the country exported more in value terms than it imported.
The major export products include copper consumer goods and raw materials.
ZNBC
Good news but lack of seriousness in quality of reporting at ZNBC.
THATS A GOOD DEVELOPMENT CHWEE CHWEE
THATS GOOD ALL THANKS TO THE MMD GOVER
Great job RB for bumper harvests that are reducing inflation.
What manner of propaganda you can not talk about the kwacha that is loosing ground everyday to the dollar. People will not feed on cooked up figures. Just go around and see the levels of poverty among the many suffering Zambians
y should inflation rate be going down when prices are going up.what is measured by inflation if i may as?
#6 prices are going up but at a slower pace 8.3% is smaller than 9%. These are the basics that most of you PF supporters missed at school.
Both 8.3% and 9% are positive figures indicating that prices are going up. If most prices started going down the figure would become negative, an animal called deflation.
ooh i c so i missed it.y the cerebration when prices are still going up as u comfirmed mwebachita DS
I thought we elect leaders to give us positive results and indicators such as these. Negativity breeds bitterness. Those of us that enjoy a positive outlook on life, lets move on coz we know why we elect a govt… leave the bitter and frustrated fellows behind, they will find us when they are done….
#9 lol. For an economy to be viable there has to be some small rise in prices all the time, but within manageable/bearable limits (usually 0.5-3%). Prices being static or a situation of deflation is a no no for business. is that clear? Again if inflation is too high thats not good.
A reduction in rate of inflation has to be celebrated because we are going towards the ? 3% target which is good for a healthy economy. Twalinwa sana DS
I can see that even basic economic terms are very hard for PF kaponyas to understand. This is why we can not let you rule the country.
Pheew,infaltion is high,life is expensive…………but it does come with many free trips around the sun.
From this article what am seeing is dirtiness regardless of those CSO numbers.Look at the picture
good to hear that inflation has dropped although its still high. it shows zambias economy is improving. i hope it does continue to drop so that the cost of living falls too. i really hope and pray the next elected government can ensure this continues.
The UNIPist PF party, after Guy Scott showed you that PF is more UNIP than anybody else in both word and deed, and after you had condemned everything UNIP, what do you stand for now? Please answer me if you want my vote.
We don’t want your vote Katie, you can shove it
8.3% is MASSIVE inflation