Maravi

CSO outlines factors raising inflation

CSO outlines factors raising inflation
By Chibaula Silwamba
Friday February 01, 2008 [03:00]

The increase in electricity tariffs, rent and food costs have pushed inflation rate to 9.3 per cent this month from 8.9 per cent in December last year. This is putting the government’s plans to attain less than seven per cent inflation rate in disarray as the rate has been constantly rising from 8.7 per cent in November 2007, 8.9 per cent in December 2007 and 9.3 per cent in January 2008.

Speaking at the Central Statistical Office (CSO)’s monthly briefing in Lusaka yesterday, CSO acting director, Efreda Chulu, said the annual inflation rate as measured by the all items Consumer Price Index (CPI) was recorded at 9.3 per cent as at January 2008.

“This rate is 0.4 of a percentage point higher than the December rate of 8.9 per cent.

Compared with the same period last year, the annual rate of inflation declined by 0.5 of a percentage point from 9.8 per cent in January 2007 to 9.3 per cent in January 2008,” Chulu said. “

The January 2008 inflation rate of 9.3 per cent means that prices as measured by the all items Consumer Price Index (CPI) increased by an average of 9.3 per cent between January 2007 and 2008.”

She said the increase in inflation rate was mainly due to the increase in the cost of food products, rent and household energy (electricity tariffs and charcoal), furniture and household appliances.

And Chulu said Zambia had recorded a trade surplus valued at K127.8 billion.

“The total value of exports in December 2007 was K1, 514.5 billion compared to K1, 457.1 billion in November 2007,” said Chulu.

Labels: CSO

posted by MrK @ 4:57 AM