January 2012 Zambian Inflation Rate At 6.4 Percent Was The Lowest
The January 2012 Zambian inflation rate was recorded at 6.4 percent.
The announcement of the lowest rate recorded over the years was made in the wake of the revamped inflation calculation technology.
Under the previous calculations inflation was calculated at 7.2 percent year–on–year in December 2011.
Starting from January 2012, the Consumer Price Index (CPI) was revised. The revision included the reclassification of basket of products from 357 to 438 items, new weights, new reference period and new software.
This new system will now make it easy for the Central Statistics office to easily compare the monthly inflation statistics of previous years starting from the year 2009.
Announcing the January 2012 Zambian inflation statistics on 26th January 2012, the CSO deputy director Mr. William Mayaka said the annual rate of inflation derived from the revised all items Consumer Price Index (CPI) was recorded at 6.4 percent.
Both the food and non alcoholic products and non-food products accounted for 3.2 percent each, of the total inflation rate of 6.4 percent recorded in January 2012.
The annual inflation rates of some items in the groups were as follows:
- Food and non-alcoholic beverages – 6.1 percent
- Alcoholic beverages and tobacco – 4.3 percent
- Clothing and foot wear – 7.3 percent
- Water and electricity & ndash; 8.4 percent
- Furnishing and household equipment – 2.3 percent
- Health &ndash: 6.7 percent
- Transport & ndash; 12.3 percent
Debasing Of The Kwacha And Inflation
The government had announced that it was going to debase the kwacha by knocking off the zeros in six month's time.
Alleviating the fears that this move was not going to increase the inflation, Mr. Mayaka said this was not possible since the kwacha was not going to be devalued.
Retail prices between December 2011 and January 2012 moved as follows:
- 25 kg bag of white breakfast mealie meal – from K47, 545 to K 43,747
- 20 liter tin of maize grain – from K 19,429 to K 19,216
- 1 kg tomatoes – from K 3,700 to K 4,058
- 1 kg of cabbage – from K 1,811 to K 2,031
- 50 kg bag of Dried Kapenta (Siavonga) – from K 74,979 to K 63,503
Major Export Products
The major export products in December 2011 were from consumer goods, raw material and capital goods which collectively accounted for about 22 percent of the total exports.
The five major export destinations were as follows:
- South Africa
- United Kingdom
Market By Regional Grouping
The market by regional grouping was as follows:
- Asia – 22.9 percent
- Southern Africa Development Community – 21.2 percent
- Common Market for Eastern and Southern Afruca – 12.7 percent
- European Union – 8.8 percent
The Country Recorded a trade surplus valued at K 132.5 billion. This was the lowest in the year 2011.
Other Related Pages on The Zambia Inflation
Zambian Inflation Figures For 2012
Zambian Inflation Figures For 2011
Zambian Inflation Figures For 2010
Zambia Inflation Figures For 2009
Zambian Inflation Figures For 2008
January 2012 Zambian Inflation To Zambian Inflation
January 2012 Zambian Inflation To Zambia Advisor Home
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