Maravi

Inflation rate records marginal increase

Inflation rate records marginal increase
By Henry Sinyangwe
Fri 31 Aug. 2012, 14:20 CAT

ZAMBIA'S inflation rate for August has recorded a marginal increase, up from 6.2 per cent seen in July to 6.4 per cent this month.

During a monthly briefing to announce the country's inflation rate yesterday, Central Statistical Office (CSO) director of census and statistics John Kalumbi attributed the rise in inflation to increases in food prices.

"Between July and August 2012, the annual rate of inflation increased for food and non-alcoholic beverages; furnishings, household equipment and routine house maintenance, health, education, and miscellaneous goods and services, while the annual rate of inflation decreased for alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas, and other fuels; recreation and culture; and restaurant and hotel," he said.

Kalumbi said the annual food inflation rate was recorded at 7.3 percent in August 2012 compared to 6.3 percent in July 2012 while the annual non-food inflation rate was recorded at 5.5 percent in August from 6.0 in July.

"This implies that there was a 1.0 percentage point increase in annual food while that of non food items decreased by 0.5 percentage points over the
previous month," he said. "A comparison of retail prices between July 2012 and August 2012 shows that the national average price of a 25 kilogrammes bag of breakfast mealie meal increased by 2.4 per cent from K42,074 to K43,119. The national average price of a 25 kilogramme bag of roller mealie meal increased by 2.0 per cent from K31,464 to K32,121..."

Meanwhile, Kalumbi said the enumeration phase of the economic census began this month and the CSO staff are currently in the field collecting data from about 12,000 enterprises and establishments for the financial year 2010.

Kalumbi also said Zambia has recorded a trade surplus valued at K383.2 billion in July 2012, the highest since January from K163.0 billion recorded in June 2012.

Labels: CSO, INFLATION

posted by MrK @ 2:30 PM