February 2010 Zambian Inflation Rate Rises To 9.8 percent

The Central Statistical Office (CSO) acting director Peter Mukuka announced the February 2010 Zambian Inflation figures on 25th February 2010 in Lusaka.

The January 2010 Zambia inflation rate was recorded at 9.6 percent whereas the February 2010 rose to 9.8 percent.

Mr. Mukuka said the marginal increment of 0.20 of a percentage point on year-on year inflation was as a result of increase in fuel and food products. He said of the total 9.8 percent, food products accounted for 4.1 percentage points while non-food products collectively accounted for 5.7 percentage points.

In January 2010, the government announced an increment of 15 percent on petroleum products resulting in increments in prices of transportation and foodstuffs, which started to have effects in February 2010.

Prices for some selected products

Mr. Mukuka said a comparison of prices between January 2010 and February 2010 showed that the national average price of 25 kg bag of roller meal increased by 0.8 percent from K 49,554 to K 49, 934, the price of a 20 liter tin of maize grain increased by 4.6 percent, from K 26,247 to K 27,454.The national average price of a 1 kg of tomatoes increased by 15.2 percent, from K2,976 to K 3,427. And the price of 1kg of pumpkin leaves reduced by 7.5 percent, from K 2,577 to K 2,383.

Food Inflation

In the month of February 2010, annual food inflation rate was recorded at 8.2 percent. This was an increase from 7.1 percent recorded in January 2010.

Non-food Inflation

The non-food inflation reduced from 12.0 percent in January 2010 to 11.3 percent in February 2010.

January 2010 Zambian Trade surplus

For eight consecutive months from June 2009 to January 2010 the Zambian government had been recording trade surpluses. In the month of January 2010 a trade surplus valued at K 316.3 billion was recorded as against K 179 billion recorded in December 2009.

Zambia’s Major Exports in January 2010

The following were the major exports which accounted for 90.4 percent of Zambia’s export earnings:
  • Ores, slag and ash accounting for 84.4 percent of total export earnings.
  • Other base metals, Cements and Articles thereof accounting for 3.4 percent of total export earnings.
  • Salt; Sulphur earth and stone plastering material, lime, accounting for 1.4 percent of total export earnings.
  • Sugar and confectionery accounting for 1.2 percent of total export earnings.

Zambia’s export destinations

In the month of January 2010 the following countries were the top 5 for Zambia’s export destinations:

Switzerland – 62.5 percent
China – 9.7 percent
South Africa – 7.1 percent
Democratic Republic of Congo – 5.8 percent
United Kingdom – 2.9 percent.

These countries accounted for 88 percent of Zambia’s total export earnings.

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