Annual Inflation Rate for March Increases to 9.2 Percent

1 April 2011

THE annual rate of inflation for the month of March has increased to 9.2 per cent from 9.0 per cent recorded in February 2011.

According to the Central Statistical Office (CSO) acting director John Kalumbi, the increase in the annual rate of inflation was as a result of increases in non food prices.

Mr Kalumbi said of the total 9.2 per cent annual inflation in March 2011, food products accounted for 9.1 percentage points, while non food products in the Consumer Price Index (CPI) accounted for a total of 7.3 percentage points

Speaking during the CSO monthly media briefing in Lusaka yesterday, Mr Kalumbi said the annual food inflation rate was recorded at 3.8 per cent in March 2011 representing a decrease from 4.5 per cent in February 2011.

“The annual food inflation rate was recorded at 14.5 per cent in March 2011.

“This is an increase from 13.5 per cent in February 2011. The annual inflation rate increased for clothing and footwear, household fuel and lighting, medical care, recreation and education and other goods and services.

“The annual inflation rates reduced for food and beverages and tobacco, furniture and household goods, transport and accommodation,” Mr Kalumbi said.

He said a comparison of retail prices between February and March 2011, indicates that the national average price of a 25kilogramme bag of white breakfast mealie meal reduced by 0.8 per cent, from K52, 305 to K51,867.

The average price of a 25Kilogramme bag of white roller mealie meal increased by 0.7 per cent from K37, 778 to K38, 048.

The annual average price of a 20 litre tin of maize grain reduced by 1.7 per cent, from K21, 746 to K21, 381.

“The national average price of one kilogramme of dried Kapenta (Mpulungu) reduced by 6.6 per cent from K57, 869 to K54, 071.

“The national average price of one kilogramme of tomatoes reduced by 17.2 per cent from K4,103 to K3,396, while, average price of one kilogramme of cabbage reduced by 8.9 per cent, from K1,793 to K1,634,” he said.

Meanwhile, Zambia has recorded a trade surplus valued at about K648.4 billion in February 2011.

He explained that the country exported more in February 2011 than it imported in value terms.

Since January 2010 the country has had monthly trade surplus with the highest valued at about K1, 484.3 billion in January 2011.

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