Inflations goes up and trade surplus reduces for November

A woman leaves Shoprite Manda Hill

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.


  1. And all the while pf is only concerned with buying opposition mp’s and stabilising the opposition. wake mcs and team and tackle wat people mandated u to do

  2. Sinyenga is a liar his name says it all. Prices for most goods have abnormally increased and I was expecting him to say the inflation rate has increased to 10%. With the currency re-basing taking effect 1st Jan retailers have increased the prices of almost everything. The CSO is just another propaganda machine Hitler is using.

  3. In my view these figures are not real. Inflation in Zambia ought to be higher than what these people are giving us. The real inflation figure should not be less than 12%. What is being reported is grossly understated to achieve politically goes rather than reflect the reality on the ground. If these figures were correct then how do you explain the interest rates which are more than twice the inflation rate and the high prices of goods and services?


  5. total rubbish. it was supposed to go to 8% looking at prevailing prices of essential commodities such as mealie meal, tomato etc. pro PF statisticians. to hell with your misleading calculations

  6. This is cooked, figures have to worse than this considering minimum wages, kwacha depreciation and continued trend of rising food prices. When the currency is rebased it will be more clearer.

  7. these no need to lie to us about inflation with manipulated figures we know the real figures when we enter into shops to buy commodities so just send that report to state house maybe it will be of use.

  8. Re basing the currency has just encouraged a lot of people to steal our money while we are waiting and praising the Cobra for the rubbish work he is doing. No one ngwe and two ngwe coins, how are going to buy or change in small amount since some goods will be sold at one ngwe and two ngwe. Traders will take advantage of this.


  10. Matthew 26 v 11 “you will always have the poor amongst you.” Explains why #1,2,4,5,6,7 & 8 are complaining; THEY ARE POOR!!!!

  11. I am always amazed at how people are quick to condemn the statisticians’ calculations when most of you dreaded arithmetic and mathematics in school and you havent even bothered to find out how inflation is calculated. CSO has its faults but dont just criticise from a mountsin top of ignorance. You should first consider what the term “average” means then move from there. It is also high time journalists start reporting on provincial CPI because CSO reports this and it will give you a clearer picture of price movements.You should also report month on month inflation instead of just year on year which ddeseasonalises the data. 

  12. For the fella who was saying how do you ecplain the interest rates which are more than twice the inflation rate. Bank of Zambia sets a policy rate which can be used as a reference interest rate. The banks set the base rates around this rrference rate. Currently the policy rate is 9.25% snd the commercisl bank base rates are around 11%. The banks then slaps a lending margin of 7% making their lending rates a minimum of 18%. The issue to me is why hasnt the lending margin reduced? Simple answer is the monetary policy set by BoZ does not speak to the fiscal policy set by the Ministry of Finance. The BoZ has done its part by setting a reference rate based on, among other things, movements in inflation. Govt also has to deliberately look at the tax regime faced by the banks.

  13. Why are prices high? Inflation measures the CHANGE in prices, not the prices themselves. If I eat at Twapandula in Longacres (or is it Rhodespark?), the price of a meal is K35,000 which most consider high. When it comes to inflation, it is a comparison of the current price (K35000) and the price in December last year (K30000) which ttanslates to 16% price hike. If I get the price of a similar meal at the filthy Kabwata cultural village, where, say the price has increased from K10000 to K12000, an increase of 20%; the guy who eats at Twapandula will condemn CSO because he is subjected to higher prices, but actually a lower rate of price increase. 

  14. If I go to 10 other restaurants in Kanyama with a similar meals where they have maintained their price at K7000. So 0% inflation. The statistician will aggregate all these prices and come up with an average. So he will get the average change in price for the 12 outlets he has collected data. In my hypothetical example, he will report an inflation rate close to 0%. The guys who eat at Twapandula and the cultural village will say he is faking the figures. That is what an average entails my learned friends who dreaded calculations at school but you are now experts on things you hardly understand!

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