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ZAMBIA’S inflation rate has decreased to 6.9 percent in October from 7 percent last month due to a reduction in the annual food inflation rate.
Central Statistical Office director John Kalumbi said the annual food inflation rate decreased by a percentage point to 5.9 percent in October from 6.5 percent recorded in September.
Mr Kalumbi said at a press briefing in Lusaka yesterday that the non-food inflation increased by a percentage point to 8 percent in October from 7.4 percent last month.
“The annual rate of inflation, as measured by the all-items Consumer Price Index for October, 2013 was recorded at 6.9 percent to the 7 percent recorded in September, 2013.
This means that on average, prices increased by 6.9 percent between October, 2012 and October, 2013,” he said.
He said of the total 6.9 percent inflation, food and non-alcoholic beverage products accounted for 3.1 percentage points while non-food products accounted for a total of 3.8 percentage points.
He, however, said a comparison of retail prices between September and October shows that the national average price of 25kgs of breakfast mealie meal increased by 1.1 percent to K64.90 from K64.22.
Mr Kalumbi also said the national average price of 25kgs of roller mealie-meal increased by a percentage point to K47.81 from K47.40.
Meanwhile, Zambia recorded a trade surplus valued at K53 million in September from K58 million previously, meaning that the country exported more than it imported in nominal terms.
He said the country has continued to record trade surpluses since January with the highest valued at K364 million in April and the lowest trade surplus was recorded in September valued at K53 million.
Mr Kalumbi said Zambia’s major export products in September were copper cathodes and a section of refined copper.
Other exports were from the consumer goods, capital goods and raw materials categories which collectively accounted for 17.9 percent.
It is projected that Zambia’s inflation rate will be at 7 percent at the end of 2013.
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QUICK INFLATIONS FACTS
• Zambia recorded a trade surplus valued at K53 million in September from K58 million previously
• Trade surpluses since January with the highest valued at K364 million in April and the lowest trade surplus was recorded in September valued at K53 million.
• Copper cathodes and a section of refined copper were largest export products in September
• Inflation rate will remain at seven percent in 2013.
Source: CSO
