Zambia’s annual rate of inflation, as measured by Consumer Price Index (CPI), has increased by 0.4 percentage points from 6.9 per cent in November to 7.3 per cent in December 2012.
Central Statistical Office Acting Director Peter Mukuka said this means that on average, prices of commodities increased by 7.3 per cent between December 2011 and December 2012.
Speaking during the CSO monthly bulletin in Lusaka today, Mr. Mukuka attributed the increase in the annual inflation rate mainly to increases in prices of some food and non-food items.
He said of the total 7.3 per cent annual inflation rate recorded in December 2012, food accounted for 4.4 percentage points while non-food products accounted for a total of 2.9 percentage points.
He explained that a comparison of retail prices between November 2012 and December 2012 shows that the national average of prices of a 25 Kilogramme bag of breakfast mealie meal increased by 14.8 per cent from K49,375 to K56,675 while that of roller meal has increased by 18.0 from K36,128 to K42,962.
Mr. Mukuka disclosed that in provincial contribution to overall inflation, Copperbelt has the largest contribution of 2.0 percentage points followed by Lusaka at 1.8 per cent while North-western province had the lowest contribution of 0.1 percentage points.
The International Monetary Fund (IMF) projected Zambia’s annual rate of inflation to close the year at a single digit of 6 per cent citing the growth in production of copper, non-maize agriculture and expansionary fiscal policy.
In international merchandize trade, Zambia has continued to record a trade surplus valued at K112.8 billion in November 2012 from K291.2 billion recorded in October the same year.
Mr. Mukuka said this means that the country exported more than it imported in the same month in nominal terms.
He added that the country’s major export destinations by commodity were Switzerland, which accounted for 43.1 percent, China was second at 20.6 per cent while South Africa was third with 8.8 per cent.
Democratic Republic of Congo and Zimbabwe were fourth and fifth accounting for 6.4 per cent and 5.2 per cent respectively.
ZANIS
Director of cso my timely advice to you is that you should start telling lies or else you will lose your job. pf will retire you in national interest.
The economy is moribunding real big time and all the president wastes his time on is disturbilising the opposition by creating costly bye elections. I mean, any president of a country whose trade surplus is plunging down while resultant inflationary exurburance is putting food prices beyond the reach of his people ought to put his priorities right by not enganging in stupid acts such as sparking costly bye elections that just add to inflation and make matters worse. Sata’s days in office are numbered, mark my word.
What Rupiah Banda left is now about to finish and now we will see what kind of a leader Sata is, okay we already know him—a clueless dictator who thinks running a country is about dictatorship and re-basing a currency. Zambia is slowly going back, thanks to the population of Zambia who were wise enough to vote for him and thankfully they are now being taught a lesson for voting without using their heads.
Only time will tell!!!
’25 Kilogramme bag of breakfast mealie meal increased by 14.8 per cent from K49,375 to K56,675′
Why was the statistician lying about the current price of mealie meal?
We all know it is at K75 000 but this PF cadre says its only K 56 000, why?
I think Sata’s dictatorship should continue for atleast another 2 years for people to learn a lesson!
be carefull what u wish for Zambians this is so sad for majority poor. they voted of course out of ignorance but ignorance is not an excuse hence the punishment.
No matter which President comes, they will never make everything good. And Many Zambians are always negative and pessimistic which never help things at all. They complain about everything and the tongue has the power of life and death.
HH has lots of money. What is he doing with those billions to show that he cares for Zambians. Nevers Mumba has been in government for so long. What did he change and what will he change when he becomes President? As Zambians we should learn to work and not wait on the promises of these politicians. They can promise to build a bridge even where there is no river.
As long as the add or rather build on the previous one then we are making progress! The worry here is that there are no “building steps” small or otherwise….
Most of the exports is Copper. Now the money does not come back to Zambia but to the foreign countries.
So where is the benefit for the surplus????
Lon, if you passed through primary and secndary school, you would have been taught about the mean or ‘average’. The 56000 is the average NATIONAL price.
It? exhausting to search out knowledgeable individuals on this matter, however you sound like you already know what you?e talking about! Thanks
Hi, just wanted to say i liked this article.
Finally, you want social and living proof that the machine actually does what it does. You want to hear good and bad things about it to get a better view on what to buy.