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Alba Iulia
Thursday, February 27, 2020

Zambia’s inflation drops from 22.2 % to 21.8%

Economy Zambia's inflation drops from 22.2 % to 21.8%

Christmas Shopping in Lusaka
Shopping in Lusaka
ZAMBIA has recorded a reduction in the annual rate of inflation from 22.2 per cent in March to 21.8 per cent in April 2016.

Central Statistical Office (CSO) director John Kalumbi said the annual rate of inflation as measured by all the items Consumer Price Index (CPI) for April 2016 decreased to 21.8 per cent.

Out of the 21.8 per cent of the annual inflation rate recorded in April 2016, food and non-alcoholic beverage products accounted for 13.7 percentage points, while non-food products accounted for 8.1 percentage points.

Mr Kalumbi told journalists at a monthly media briefing that, this meant that on average, prices increased by 21.8 per cent between April 2015 and April 2016.

“The decrease in the annual rate of inflation is mainly attributed to decreases in the prices of non-food items such as motor vehicles. The CPI measures changes over time the general level prices of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2009, “Mr Kalumbi said.

He said the annual rate of food inflation for April 2016 was recorded at 26.5 per cent compared to 26.2 per cent recorded in March 2016, indicating an increase of 0.3 percentage points.

The non-food inflation rate for April 2016 decreased to 16.7 percent from 17.9 per cent, indicating a decrease of 1.2 percentage points.

“The increase in food inflation was mainly attributed to increases in the inflation of rice, chicken, tomatoes and sugar. While the decrease in non-food inflation is mainly attributed to decreases in inflation of motor vehicles,” he said.

A comparison of retail prices between March 2016 and April 2016 shows that the national average price of a 25 kilogramme (KG) bag of breakfast mealie-meal increased by 2.1 per cent from K86.25 to K87.04.

In terms of provincial contribution Lusaka Province had the highest contribution of 6.1 percentage points to the overall annual inflation rate of 21.8 per cent.

“Copperbelt Province had the second highest contribution of four percentage points. Western Province had the lowest contribution of 0.8 percentage points,” he said.

And Zambia recorded a trade deficit in March 2016 valued at K800.9 million.

This represents a 17.8 per cent increase in the trade deficit from K679.8 million recorded in February 2016.

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11 COMMENTS

    • Are you normal? Inflation marginally drops from 22.2% to 21.8% and here we have an economics challenged PF cadre wetting his pants. My dear there’s nothing to get excited about here. Any inflation rate that is in double digits is terrible. It doesn’t matter whether it is 21.8% 0r 11%…..it is unacceptable and not good for consumers. Stable and well managed economies always target inflation rates between 2.5% to 5% for developing economies. Developed economies are more comfortable with anything between 1.5% to 2%.

  1. As PS SA index linked to inflatory chicken links to your account of this drop high lights the ensuring accords.
    Vigilance once again to inflate all indecis according to known statistics with in the confines of the banks known monetary limits without breaching congestive analysis will go ahead dispite the drop swing exhibiting the confines of all but essential ground shifts.

  2. Why should good things happening in our own country be bad news to some citizens? No doubt about it things are getting better each and every second. Come June zambians will forget about what we went through. Start to like things in our country becoz lungu will be with us for the coming 5 years

  3. The rate was at single digit below 7% when PF took over and now it has gone upto 20% then there is no need to celebrate country men.This is PF for you.

  4. US DOLLAR IS SELLING AT 650 MALAWAN KWACHA, AND ITS SELLING AT 9.5 ZAMBIAN KWACHA SO YOU ID1OTS IN UPND AND YOUR HH CANT SEE THAT THE PF IS WORKING DAY AND NIGHT FOR YOU FOOLS TO BE HAPPY. YOUR FRIENDS IN NEIGHBOURING COUNTRIES ARE DYING OF HUNGER BUT YOU ARE EATING HEAVILY AND YOU ARE BUSY INSULTING LUNGU. YOU ARE PATHETIC PEOPLE. THATS WHY YOU ARE TRIBLE FOOLS. HH WILL DIE IN AUGUST AFTER THE SWEARING IN CEREMONY OF EDGAR CHAGWA LUNGU.

  5. Progress Guys,
    Testimony of the astute financial management of President Lungu and his dedicated team.
    Please remember this on 11 August and return PF with an overwhelming majority!

  6. This information is incorrect. Iam sure the CSO is trying to play a good boy to PF.Even the non food, prices went up including vehicles.Where did they get information?

    However,I propose that those who are malnourished with information or in education should stop commenting on economic issues. Someone allucinated that Malawi Kwacha is selling at k650 against the dollar while Zambia is at K9.5.
    If our Kwacha was not rebased ,it could have been selling at K9,500.00 against the dollar. If Malawian Kwacha was to be rebased today like the way our Kwacha was done. it can be selling at 0.65 against dollar and our Kwacha at k9.50.

    Moreover, it has never happened in the history of Zambia where traders at Congo border trading in frac or Congolese currency instead of our Kwacha or dollar. but…

  7. In Zimbabwe you had to pay for a cup of coffee before it is made otherwise the cost would have gone up by the time it is ready and yet the man responsible for this hyper inflation is still in power.

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