The annual inflation rate has recorded a double digit from 9.8 percent in March 2008 to 10.1 percent in April, 2008.
The annual rate of inflation, as measured by the all items Consumer Price Index (CPI), has been recorded at 10.1 percent as at April 2008 representing a 0.3 percentage point higher than last month.
Director of Census and Statistics Efreda Chulu, who announced the development at a press briefing in Lusaka today, attributed the growth in the inflation rate to increased prices of food, beverages, tobacco, rent and household energy, furniture and other social amenities.
Ms Chulu said the increase of 0.3 percentage points in the annual inflation rate from 9.8 percent in March 2008 to 10.1 percent in April 2008 is largely attributed to the increase in the cost of food products.
She said this is because of the total 10.1 percent annual inflation rate in April 2008, food products accounted for 4.8 percentage points while non-food products in the Consumer Price Index accounted for a total of 5.3 percentage points.
The annual food inflation rate was recorded at 9.8 percent in April 2008, compared to 9.1 percent in March 2008 and contributing to food inflation were increases in the cost of maize meal, cereals, cooking oil and milk products.
And Zambia has recorded a Trade Surplus in the International Merchandise Trade valued at K346 billion.
The growth in the International Merchandise Trade has revealed that the country exported more products in March than it imported in value terms.
Director of Census and Statistics Efreda Chulu said during a monthly CSO bulletin presentation that the total value of exports in March 2008 was K1, 615.5 billion compared to K1, 487.9 billion in February 2008.
Ms Chulu stated that the most prominent exports were manufactured goods classified chiefly by material which accounted for 82.7 percent in March and 83.1 percent in February 2008, of which refined copper was the most significant export item.
She further cited Switzerland, Egypt, South Africa, Democratic Republic of Congo and China as some of Zambia’s major export destinations by products in March 2008.