ZAMBIA’s annual inflation rate has recorded a marginal decline of 0.2 per cent from 8 per cent recorded in August this year going down to 7.8 per cent, while the trade surplus was recorded at K98.4 million.
Central Statistics Office (CSO) director John Kalumbi said the annual rate of inflation as measured by the all Consumer Price Index (CPI) for September 2014 was recorded at 7.8 per cent.
Mr Kalumbi said the annual rate of inflation was 0.2 per cent lower than the corresponding annual rate of 8 per cent observed in August, 2014.
He said this meant that on average, prices decreased by 7.8 per cent between September 2013 and September 2014.
“Of the total 7.8 per cent annual inflation rate recorded in September 2014, food and non-alcholic beverage products accounted for 3.6 percentage points, while non-food products accounted for a total of 4.2 percentage points,” Mr Kalumbi said.
Mr Kalumbi attributed the decline in the annual rate of inflation to decreasingly annual rate observed in September 2014, for non-food namely housing, water, electricity and gas, which decreased from 12.3 per cent to 11.5 per in September this year. The annual food inflation rate for September, 2014 was recorded at 6.9 per cent compared to 7.0 per cent recorded in August 2014, indicating a decrease of 0.1 percentage points.
He said the annual non -food inflation decreased by 0.3 percentage points from 9.1 per cent recorded in August 2014 to 8.8 per cent recorded in September in September 2014.
In terms of comparison of retail prices between August and September 2014, showed that the national average price of a 25 kilogramme (KG) of breakfast mealie meal decreased by 2.71 per cent from K72.33 to K70.37.
Mr Kalumbi said the national average price of a 25 KG bag of Roller mealie meal decreased by 3.36 per cent fro K51.79 to K50.05, while the average price of a 20 litre tin of maize grain increased by 6.31 per cent from K25.21 to K26.80.
“North Western Province recorded the highest annual rate of inflation at 9.9 per cent followed by Eastern province at 9.5 per cent,” he said.
Central and Copperbelt province had the lowest annual rate of inflation at 6.3 per cent each in September 2014.
Mr Kalumbi also said that Zambia recorded a trade surplus valued of K98.4 million in August 2014 from K113.0 million