Maravi

Inflation up 1.2%

Inflation up 1.2%
Written by Chiwoyu Sinyangwe
Thursday, April 30, 2009 2:58:38 PM

ZAMBIA’S annual inflation rate has registered a 1.2 percentage point increase in April, recoiling to 14.3 per cent.

Data released by Central Statistics Office (CSO) director, Efreda Chulu, in Lusaka on Thursday said the increase of the annual inflation rate which in March stood at 13.1 per cent was mainly on account of increases in prices of food and other processed products.

Chulu said the annual food inflation rate for April was recorded at 15.9 per cent, up from 13.9 per cent in March 2009.

She further disclosed that of the total 14.3 per cent annual inflation for April, food products accounted for 7.8 percentage points, while non-food products accounted for a total of 6.5 percentage points.

She however announced that prices of tubers and alcoholic beverages had recorded reductions.

“Contributing most to the increase in food inflation were increases in the cost of mealie meal, cereals and cereal products, meat, fish, kapenta, fresh vegetables, dried beans, oils and fats, fresh milk, tea and coffee, sugar, table salt and other processed food products,” Chulu said.

She also announced that the annual non-food inflation rate stood at 12.7 per cent in April, up from 12.3 per cent recorded in March.

“Regarding disaggregated groups, the annual inflation rates increased for clothing and footwear, transport and communication, other goods and services and reduced for furniture and household goods, medical care, recreation and education,” said Chulu.

And Zambia last month recorded a trade deficit valued at K47.3 billion, meaning that the country exported less than it imported in value terms.

CSO also announced that the country’s major export products in March this year were copper and articles, accounting for 70.9 per cent of the country’s total export earnings.

Meanwhile, the five major destinations for the country’s exports during March 2009 were Switzerland, China, Democratic Republic of Congo, South Africa and Republic of Korea.

“These five countries accounted for 70.2 per cent of Zambia’s total export earnings,” stated CSO in its monthly bulletin.

Labels: EFREDA CHULU, INFLATION

posted by MrK @ 2:00 PM