March 2011 Zambian Inflation Increased to 9.2 percent
The March 2011 Zambian inflation was recorded at 9.2 percent, still maintaining single digit inflation rates since January 2011.
John Kalumbi, acting Central Statistical director, announced the March 2011 Zambian inflation figure in Lusaka on 31 March 2011.
The rise in the Zambia inflation rate from 9.0 percent in February 2011 to 9.2 percent in March 2011 was attributed to a rise in non-food prices such as fuel.
The annual inflation for non-food products and food products was recorded at 14.5 percent and 3.8 percent in March 2011 respectively.
This represented an increment from 6.8 percent and 2.2 percent for non-food products and food products in February 2011 respectively.
Composition of the March 2011 Zambian Inflation
John Kalumbi announced that food products accounted for 1.9 percentage points while non food products in the Consumer Price Index (CPI) accounted for a total of 7.3 percentage points.
An increase was recorded in the annual inflation rates for clothing and footwear, household fuel and lighting, medical care, recreation and education and other goods and services.
However, the annual inflation rates reduced for food and beverages and tobacco, furniture and household goods, transport and accommodation.
Comparison of retail prices
A comparison of retail prices between February 2011 and March 2011 showed the following:
The national average price of a 25 kilogramme bag of white breakfast mealie meal reduced by 0.08 percent, from K 52,305 to K 51,867.
A 25 kilogramme bag of white roller mealie meal increased by 0.7 percent form K 37, 778 to K 38,048
The price of 1 kilogramme of dried kapenta (Mpulungu) reduced by 6.6 percent form K 57,869 to K 54,071.
A kilogramme of tomatoes reduced to K 3,396 from K 4,103.
1 kilogramme of cabbage was being sold at K 1,634 in March 2011 from K 1,793 recorded in February 2011.
A 20 litre tin of maize grain reduced from K 21,746 to K 21,381, a reduction of 1.7 percent.
Zambian trade surplus
Kalumbi also reported that the Zambian government recorded a trade surplus in the month of February 2011, being valued at K 648.4 billion. This meant that the country in February 2011 imported more that it imported in value terms.
Exports in February 2011 were from intermediate goods category mainly comprising copper cathodes and sections of refined copper and copper blister, accounting for 86.8 percent.
However, exports from categories of raw materials, consumer goods and capital goods accounted for 13.2 percent of total exports in February 2011.
Starting way back in January 2010, trade surpluses were being recorded; the highest being K 1, 484.3 billion in January 2011.