August 2010 Zambian Inflation Declines To 8.2 Percent
The August 2010 Zambian Inflation rate reduced to 8.2 percent year-on-year. Acting Central Statistical Office (CSO) director John Kalumbi announced the figures on Thursday 26th August 2010.
The decrease in the August 2010 Zambian inflation rate was largely attributed to the reduction in some food prices.
Composition Of Food And Non-Food Inflation
Mr. Kalumbi said of the total 8.2 percent, food products in the Consumer Price Index (CPI) accounted for 1.4 percent while the non-food products accounted for 6.8 percentage points.
Kalumbi said the annual food Zambia inflation rate declined from 4.1 percent recorded in July 2010 to 2.9 percent in August 2010.
There was an increment in the annual non-food inflation from 12.6 percent in July 2010 to 13.4 percent in August 2010.
Mr. Kalumbi further said the annual inflation rate increased for clothing and footwear; household fuel and lighting; furniture and household goods; medical care; and other goods and services. He, however said the annual inflation rate reduced for beverages and tobacco; transport and communication; and recreation and education.
Prices Of Some Selected Products
The national average price of 25kg bag of white roller meal reduced from K 37,809 to K 35,137. The price of white breakfast meal reduced from K 59,306 to K 57,690.
However, the national average price of a 20 liter tin of maize grain increased by 2.5 percent, from K 18,567 to K 19,031.
July 2010 Zambian Trade Surplus
For fourteen consecutive months from June 2009 to July 2010 the Zambian government had been recording trade surpluses. In the month of July 2010 a trade surplus valued at K 1,068.7 billion was recorded against K 493.6 billion recorded in June 2010. The trade surplus meant that the country exported more in the month of July 2010 that it imported in value terms.
Major Export Destinations In July 2010
The following countries were the major export destinations:
- Switzerland accounting for 52.5 percent
- China accounting or 20 percent
- South Africa accounting for 7.4 percent
- Democratic Republic of Congo accounting for 5.4 percent
- United Arab Emirates accounting for 3.1 percent
These five countries collectively accounted for 88.4 percent of Zambias total export earnings in July 2010.
Exports By Major Product Categories In July 2010
Zambias major export products in July 2010 were as follows:
- Intermediate goods (comprising copper cathodes and sections of refined copper and copper blister) accounting for 81.8 percent.
- Raw materials (cobalt and concentrates and copper ores and concentrates) accounting for 8.3 percent.
- Other exports (consumer and capital goods categories) accounting for 9.9 percent.
August 2010 Zambia Inflation to Zambian Inflation
August 2010 Zambian Inflation to Zambia Advisor Home
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