April 2008 Zambian Inflation rate - up again to 10.1 percent
The April 2008 Zambian inflation rate rebounded to double digits. The rate was recorded at 10.1 percent increasing from 9.8 percent recorded in March 2008.
Changes in annual inflation rates for CPI (Consumer Price Index) Main Groups
Between March 2008 and April 2008, the April 2008 Zambia inflation rates increased for food, beverages and tobacco, rent and household
energy, furniture and household goods, medical care, recreation and education.
In the same period, the April 2008 Zambian inflation rates decreased for clothing and footwear, transport and communication
Contribution of different items to overall inflation
The increase of 0.3 of a percentage point in the annual inflation from March 2008 to April 2008 was as result of the increase
in the cost of food products. In April 2008, food products accounted for 4.8 percentage points while non-food products
accounted for 5.3 percentage points.
Annual food inflation rate 9.8 percent
The annual food inflation rate in April 2008 was recorded at 9.8 percent, compared to 9.1 percent in March 2008.
The main contributors to the April 2008 Zambian inflation were increases in the cost of maize meal, other cereals and cereal
products, cooking oil, milk and milk products, table salt and sugar and other processed food products.
There were partial offsets in these increases by reductions in the cost of maize grain, fresh vegetables, fish, dried kapenta,
meat, eggs, dried beans, tubers, and shelled groundnuts.
Annual Non-food inflation 10.5 percent
The annual non-food inflation rate increased to 10.5 percent from 10.4 percent recorded in March 2008.
Prices for some selected products
A comparison of retail prices between March 2008 and April 2008 indicated the following:
- The price of a 25 kg bag of breakfast meal increased by 3.9 percent from K 41,984 to K 43,615.
- The price of a 20 liter tin of maize grain declined by 1.0 percent, from K 20,006 to K 19,814.
- The price of 1 kg of dried kapenta (Siavonga) declined by 2.9 percent.
- The price of 1 kg of tomatoes declined by 8.8 percent.
- The price of a 750mls bottle of cooking oil increased by 10.4 percent.
March 2008 Trade Surplus
In the month of March 2008 Zambia recorded a Trade Surplus valued at K 346.0 billion. This means that the country exported more
in March 2008 than it imported in value terms.
Major Exports in March 2008
The four major exports which accounted for 92 percent of Zambias export earnings were as follows:
- Copper and articles thereof accounted for 73.3 percent of total export earnings.
- Base metals such as cobalt which are copper related accounted for 8.3 percent of total export earnings.
- Ores, slag and ash accounted for 7.6 percent of total export earnings.
- Cereals accounted for 2.8 percent of total export earnings.
Major export destinations In March 2008
The five major destinations of Zambias exports were the following:
Switzerland 47.9 percent
Egypt 14.6 percent
South Africa 5.4 percent
Democratic Republic of Congo 3.9 percent
China 3.7 percent
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