ZAMBIA’s annual inflation rate for November has increased to 6.9 per cent from 6.8 per cent in October, and the country recorded a reduced trade surplus valued at K310.6 billion in October 2012 from K478.1 billion.
The rise in the rate of inflation was driven by the soaring of some non-food prices Central Statistical Office acting director Goodson Sinyenga said.
He said the annual rate of inflation as measured by the all items Consumer Price Index (CPI) increased by 0.1 percentage points from the 6.8 per cent in October 2012 to 6.9 per cent this month.
Addressing journalists in Lusaka yesterday, Mr Sinyenga said between October 2012 and November 2012 the annual rate of inflation increased for Alcoholic beverages and tobacco, clothing and footwear; housing, water, electricity, gas and other fuels.
Mr Sinyenga said the annual rate of inflation decreased for food and non-alcoholic beverages such as health, transport, communication, recreation and culture and among others.
“Of the total 6.9 per cent annual rate recorded in November 2012, the food products accounted for 4.1 percentage points, while non- food products accounted for a total of 2.8 percentage points,”Mr Sinyenga said.
He said the annual food inflation rate posted at 8.0 per cent in November 2012 compared to 8.2 per cent registered the previous month.
This implies that there was a 0.2 percentage points decline in annual food inflation and Mr Sinyenga said the annual non-food inflation shot up.
He said in terms of provinces, the Copperbelt had the largest provincial contributions of 1.9 percentage points to the overall inflation rate of 6.9 per cent followed by Lusaka which accounted for 1.3 percentage points.
The lowest contributions came from North-Western and Western Provinces with 0.2 percentage points each.
Commenting on international merchandise trade, Mr Sinyenga said Zambia had posted a trade surplus valued at K310.6 billion in October 2012 from K478.1 billion registered in September 2012.
This means the country exported more in October 2012 than it imported in norminal terms.
He said the country had continued to record trade surpluses since January 2012 with the highest amount valued at K478.1 billion recorded in September 2012.
The lowest trade surplus was recorded in February 2012, valued at K45.1 billion.