Zambia’s annual rate of inflation for January reduced to 7 percent from 7.3 percent on account of reduced food prices.
Central Statistical Office Director John Kalumbi told Reporters in Lusaka that the annual rate of inflation may reduce further as captured in February after decreases in the price of mealie meal following goverment’s intervention.
Mr. Kalumbi said there were decreases in food and non alcholic beverages, housing, water, electricity, gas and other fuels over the same period.
On trade, Mr. Kalumbi said Zambia has continued posting positive trade surpluses, meaning the country has been exporting more than it has been importing.
He said in December 2012, Zambia exported KR 135.9 million worth of goods from KR 112.8 million recorded in November 2012.
The CSO Director said Zambia’s major export product was Copper Cathodes which went to destinations such as Switzerland, China and South Africa.
Wonderful to hear this!
What is so wonderful about this, it is still inflation just 0.3 less than last month, but prices are still going up.
If this is correct, then fhy Kwacha is in free-fall?
Food prices have increased. Mealie prices have almost double. Prices of Bread have increased. Surprise, Surprise inflation has gone down! This is pure Ukwanomics! Massaging statistics won’t take you anywhere dear Hyeana! Citizens feel the bite of your mismanaged economy in their pockets. Stop lying to yourselves! We know you and you are incapable of telling the truth! Congenital liars! By the way, where is your village headman? He better come and have his first press conference to explain his voodoo economics!
Good news on trade surplus and inflation but I would happy to see more of other economical activities other than mining industry.