ZAMBIA’S annual inflation rate has marginally increased to 8.1 percent in November from 7.9 percent the previous month due to a rise in both food and non-food products.
Meanwhile, international merchandise trade statistics indicate that Zambia recorded a decline in trade surplus valued at K67 million last month compared to K99 million in September this year.
Central Statistical Office (CSO) director of census and statistics John Kalumbi said of the total 8.1 percent annual inflation rate recorded this month, food and non-alcoholic beverages accounted for 3.8 percentage points while non-food products accounted for 4.3 percentage points.
Mr Kalumbi said this during a CSO monthly briefing yesterday. He said that the annual food inflation rate for this month is 7.3 percent showing an increase of percentage points from 7.1 percent recorded last month, representing a 0.2 percentage point increase.
He said the increase in annual food inflation is mainly attributed to an increase in fish and vegetable products.
“The monthly inflation rate for November 2014 was recorded at 0.4 percent compared to 0.1 percent recorded in October 2014, this indicates an increase of 0.3 percentage points,” he said.
A comparison of retail prices between October and November this year shows that the national average price of a 25kg bag of breakfast mealie-meal decreased by 1.1 percent to K70.13 from K70.93 while a 25kg bag of roller mealie-meal decreased by 1.2 percent to K49.41 from K50.01 in the same period.
On international trade, Mr Kalumbi said Zambia recorded a decline in trade surplus from K99.1 million recorded in September to K67 million in October.
“The highest trade surplus valued at K295.4 million was recorded in January 2014 and the lowest trade surplus was in June 2014, valued at 19 million,” he said.
Zambia’s major export products in the period under review mainly comprised copper cathodes and sections of refined copper accounting for 3.8 percent.
Other exports were from consumer goods, capital goods and raw materials which collectively accounted for 16.2 percent of total exports in October.
Zambia’s major export destination in October was Switzerland followed by China.
Ok God already has arrested this situation of increasing inflation. He has permanently removed the illiterate head of state for us unfortunately and sadly he did it too seriously, it could have been through an election but I bet the late didn’t listen. MHSRIP, but now we have hope through young energetic HH to use his economic prowess on this country for future success and livelihood of every Zambian.
Meanwhile, Hon Chikwanda and Hon Gondwe should face reality. The economy is reverse gear, not only because of high costs but due to the failures of PF and over spending on Sata’s medical bills.
PF squandered alot of money and time again has finally come to finish them of.
PF & endless inconsistencies and confusion.
This is very ALARMING!!!!!!!
The inflation has now hit the highest since August 2010 when it dropped from 8.2% to 7.7%.
Simply put the PF found the inflation rate at around 6.4% and all they have done is to start raising it up.
Give them till 2016 and the inflation rate will be back to two digits
Zambian’s now have a chance to rid themselves
of Violent thugs.
Vote wisely, & please ensure Clowns & boneheads masquerading as seasoned Politicians are given the boot, so they can take their thug life to their own homes, as Zambian’s don’t need sub- standard leaders who invade radio, or television stations.
All those who say HH has no national appeal .lets see if they can eat national appeal through these high inflation rate at 8 percent. PF has completely failed.Its up to you .Sata once said cry for your self.HH is rich cry for your self.HH can make a good leader please help Zambia breath freash air.
The fear is that HH may prove versatile in improving the economy shaming the ones that have over the years stagnated national development and mitigation of poverty. Only scholars in modern economics and management may be in tune with HH.