June 2009 Zambian inflation drops to 14.4 percent

The June 2009 Zambian inflation rate registered a marginal decrease of 0.03 percentage points to 14.4 percent for the month of June 2009 from the May 2009 figure of 14.7 percent.

The reduction in the annual inflation was as a result of the decline in some food products such as mealie meal and maize grain.

Officially releasing the June 2009 inflation bulletin, Central Statistical Office (CSO) director Efreda Chulu said the annual inflation rate between June 2008 and June 2009 reduced for food beverages and tobacco, as well as rent, fuel and lighting.

At the same time the rate of inflation as measured by the all items Consumer Price Index (CPI) increased for clothing and footwear, furniture and other household goods, medical care, transport and communication, recreation and education and other goods and servuces.

Chulu explained that the composition in total figure of 14.4 percent in the June 2009 Zambian inflation was as follows: food products accounted for 7.0 percentage points, while non-food products in the consumer price index accounted for a total of 7.4 percentage points.

Annual food inflation

The annual food inflation was 14.1 percent in June 2009 as compared to 16.1 percent in May 2009.

Annual non-food inflation rate

The annual non-food inflation rate increased again from 13.3 percent in May 2009 to 14.7 percent in June 2009.

National Average prices of selected products

The national average price of a 25 kg bag of white breakfast meal reduced by 3.0 percent, from K 66,970 to K 64,966, while the national average price of a 25 kg bag of white roller meal reduced by 11.1 percent, from K 52,202 to K 46,419.

The national average price of a 20 litre tin of maize grain declined by 6.8 percent, from K 22,789 to K 21,244.

However, the national average price of 1 kg of dried kapenta (Mpulungu) increased by 5.7 percent, from K49,241 to K 51,812,while the national average price of 1 kg of tomatoes increased by 21.5 percent, from K 4,003 to K 4,863.

Trade deficit

Zambia recorded a trade deficit in the month of May 2009 amounting to K 298.4 billion. This means that the country exported less than it imported in value terms.

The country's major export product was still copper which accounted for 65.4 percent in May 2009.

The other exports were ores, slag and ash at 9.6 percent, sugar and sugar confectionary at 3.5 percent, as well as dairy products.

Export destinations

The five major destinations of Zambia's exports in May 2009 were Switzerland (54.1 percent), Democratic Republic of Congo (11.7 percent), South Africa (9.4 percent), China (4.8 percent), and Egypt (3.4 percent).

These in total accounted for 83.4 percent of Zambia's export earnings.

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