Zambia recorded a 0.1 per cent slowdown in the annual inflation rate, from 7.0 percent in January 2013 to 6.9 per cent in February 2013.
This is according to the Central Statistical Office (CSO) Monthly Bulletin for February 2013.
Speaking when presenting the bulletin in Lusaka this morning, CSO Acting Director, Goodson Sinyenga, disclosed that on average, prices increased by 6.9 per cent between February 2012 and February 2013.
Mr Sinyenga explained that the slowdown in the inflation rate is mainly attributed to decrease in food prices.
He said of the total 6.9 per cent annual inflation rate in February 2013, food prices accounted for 3.5 percentage points, while non food items accounted for 3.4 percentage points.
Mr Sinyenga revealed that the annual food inflation rate decreased by 0.9 per cent from 7.6 per cent recorded in January 2013, to 6.7 per cent in February 2013.
He disclosed that a comparison of retail prices between January 2013 and February 2013, shows that the national average price of a 25 kg bag of mealie meal decreased by 5.5 per cent from KR57.56 to KR 54.41.
Mr Sinyenga further revealed that the annual inflation rate for non food items increased by 0.8 percentage points, from 6.3 per cent in January 2013, to 7.1 per cent in February 2013.Zambia recorded a 0.1 per cent slowdown in the annual inflation rate, from 7.0 percent in January 2013 to 6.9 per cent in February 2013.
This is according to the Central Statistical Office (CSO) Monthly Bulletin for February 2013.
Speaking when presenting the bulletin in Lusaka this morning, CSO Acting Director, Goodson Sinyenga, disclosed that on average, prices increased by 6.9 per cent between February 2012 and February 2013.
Mr Sinyenga explained that the slowdown in the inflation rate is mainly attributed to decrease in food prices.
He said of the total 6.9 per cent annual inflation rate in February 2013, food prices accounted for 3.5 percentage points, while non food items accounted for 3.4 percentage points.
Mr Sinyenga revealed that the annual food inflation rate decreased by 0.9 per cent from 7.6 per cent recorded in January 2013, to 6.7 per cent in February 2013.
He disclosed that a comparison of retail prices between January 2013 and February 2013, shows that the national average price of a 25 kg bag of mealie meal decreased by 5.5 per cent from KR57.56 to KR 54.41.
Mr Sinyenga further revealed that the annual inflation rate for non food items increased by 0.8 percentage points, from 6.3 per cent in January 2013, to 7.1 per cent in February 2013.
And Zambia recorded a trade surplus valued at KR192.8 million in January 2013 from KR 135.9 million recorded in December 2012.
This is according to the Central Statistical Office (CSO) monthly bulletin for February, 2013.
The bulletin shows that the country exported more than it imported in January 2013.
The bulletin also shows that Zambia’s major export products in January, 2013, comprised mainly of copper cathodes and sections of refined copper, which accounted for 76.9 per cent, followed by consumer goods which accounted for 14.9 per cent of the total exports.
According to the bulletin, Zambia’s major export destination in January, 2013, was Switzerland, which accounted for 41.0 per cent with the major export products being cathodes and sections of refined copper.
China was the second major destination for Zambia’s exports followed by the United Arab Emirates, Democratic Republic of Congo (DRC), and South Africa.
The bulletin shows that the five countries collectively accounted for 88.1 per cent of Zambia’s total export earnings in January, 2013.
The bulletin indicates that in regional groupings, Asia was the largest market for Zambia’s total exports, accounting for 35.7 per cent, followed by the Southern African Development Community (SADC) region which accounted for 19.4 per cent in January, 2013.
The Common Market for Eastern and Southern Africa (COMESA) was the third largest market for Zambia’s total exports in regional groupings, followed by the European Union.
Zambia’s major imports for January 2013 was South Africa , accounting for 26.1 per cent, with the major import products being structures and parts of structures, steel, and iron.
The DRC was the second major source of Zambia’s imports accounting for 22.1 per cent, followed by China which accounted for 9.7 per cent of the total value of imports.
Other sources of Zambia’s imports were the United Kingdom and Japan which collectively accounted for 9.5 per cent of the country’s imports.
The bulletin showed that in regional groupings, SADC was the major source of Zambia’s imports, accounting for 51.9 per cent in January 2013, followed by COMESA and Asia respectively.
Zambia has continued to record trade surpluses since January 2012 with the highest valued at KR473.2 million, recorded in August, 2012.
The lowest trade surplus was recorded in February 2012, valued at KR 47.4 million.
ZANIS
Nice !!!!!!!!!!!!!!!!! Thanks PF !!!
0.1% is something to even to report. These Pagan Fronts have no brains.
Very very very soon every child will be having two eggs for breakfast every morning everyday…
KK cheated you Zambians with egg for breakfast, for his first 20 years of socialism.
I have decided to sue KK for all things he owes me.
Seleni tubombeko.
This is were all PF cadres are hiding LT
Hahaha,just a handful of 4 comments on economics coz zambians wud rather do useless politics.Just goes to show we’re poor by choice bcoz economics is boring and not sexy like politics.Next time you complain of poverty just blame yo self.
Why are chaps not commenting on this very very wonderful news? Shameless spineless chaps you don’t want your own country to prosper, sad *****
What difference does it make? These are cooked up figures. When MMD was in power mealie meal was K48. It is now K70 + today. Basically everything has gone up but in the parallel world of the criminally insane PF inflation is bewitchingly going down. PF have indeed cornered the market in voodoo economics!
It seems no one is interested in insulting the Economy but Politicians.
Economics is difficulty stuff, Zambians get headaches to if they try to understand it. Have ever head Sata or Kabimba use % , I am not even sure if Sata can pronounce “percentage”. Ask him by how many % did he beat HH in elections…
Ba Nostradamus,if economics is difficult stuff then that is as it shud be.Zambia hasn’t developed exactly bcoz of that type of attitude -we just wanna do things that won’t strain us mentally & physically.Examples our dirty streets -we don’t hav the discipline or diligence to keep em clean & in economics we only do the easy stuff.In life you don’t pray for tasks that are equal to your pwr but rather pray for powers equal to your tasks.In zed we only do the former.