February 2011 Zambian Inflation Remained at 9 Percent
The February 2011 Zambian inflation was recorded at 9 percent, the same rate as that of January 2011.
The inflation figures were announced on 24th February 2011 by acting Central Statistical Office director, William Mayaka.
Mr. Mayaka said food inflation dropped to 2.2% from 2.6% recorded in January 2011.
The food items which contributed to the drop in the food inflation were among other things red meats, fish, pork, vegetables, dried kapenta (Chisense, Siavonga and Mpulungu)
Non food Inflation
There was a sharp increase in the non food inflation from 6.4% recorded in January 2011 to 6.8 percent in February 2011.
The non food items which pushed the non food inflation rate were rentals and energy charges which moved up from 2.2 to 2.9 percent with recreation and education. Clothing and footwear, furniture and household goods and medical care remained static.
According to Mr. Mayaka, the fuel hikes in February 2011 were not reflected in the inflation figure but would be included in March 2011.
Zambia Records Trade Surplus of K 1.48 trillion
Meanwhile, Central Statistical Office (CSO) deputy director of social statistics William Mayaka reported that Zambia had recorded K 1.48 trillion surplus in the month of January 2011.
The earnings from copper reached 90 percent of the countrys exports in January 2011, more than K 400 billion compared to the best Zambian trade surplus in April 2010,
which was K 1,134.3 trillion.
Major Export Destinations
The major export destinations were as follows:
- Switzerland accounting for 62 percent of total export earnings.
- China accounting for 13.6 percent of total export earnings.
These were then followed by South Africa and the United Kingdom in the second and fourth position respectively.
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