May 2010 Zambia Inflation Stands At 9.1 percent
The May 2010 Zambia Inflation rate was recoded at 9.1 percent. This was a reduction from 9.2 percent recorded in April 2010.
The Central Statistical Office (CSO) director Efreda Chulu who released the May 2010 Zambia inflation figures on 27th May 2010 in Lusaka, attributed the slight reduction in the annual inflation rate to the decrease in some food prices that the country experienced.
However, Chuulu said the increment in the price of fuel which was effected in May 2010 was going to be reflected in the June 2010 CPL.
Of the total 9.1 percent in May 2010, food products accounted for 3.2 percentage points while non-food products in the consumer price index accounted for a total of 5.9 percentage points.
Prices for some selected products
According to Chuulu, a comparison of retail prices between April 2010 and May 2010 showed that the national average price of 25 kg bag of white roller mealie meal declined by 5.1 percent, from K 48,940 to K 46,459, while the average price of a 20 liter tin of maize grain declined by 14.2 percent from K 23,871 to K 20,473.
The national average price of a 1 kg of tomatoes declined by 5.1 percent, from K4,011 to K 3,806, while the average price of 1 kg of dried kapenta (Siavonga) increased by 3.6 percent from K 51,982 to K 53,874.
Annual food inflation rate in May 2010 was recorded at 6.5 percent. This was a decline from 7.3 recorded in April 2010.
The non-food inflation rate was recoded at 11.6 percent. This represented an increase from the April 2010 figure of 11.2 percent.
Chuulu said the annual inflation rates declined for food, beverages and tobacco; clothing and footwear; household fuel and lighting, furniture and household goods; as well as other goods and services but the annual inflation rates increased for medical care, transport and communication, recreation and education.
April 2010 Zambian Trade surplus
For eleven consecutive months from June 2009 to April 2010 the Zambian government had been recording trade surpluses. In the month of April 2010 a trade surplus valued at K 1,134.3 trillion was recorded as against K 752.9 billion recorded in March 2010. The trade surplus meant that the country exported more in the month of April 2010 that it imported.
Zambias Major Exports in April 2010
Meanwhile, Chuulu said the major exports which accounted for 92.8 percent of Zambias export earnings were the following:
- Copper related including copper and articles thereof; Ores, slag and ash accounting for 88.6 percent of total export earnings.
- Other base metals, Cements and Articles thereof accounting for 2.2 percent of total export earnings.
- Boilers, machinery and mechanical appliances accounting for 1.0 percent of total export earnings.
- Tobacco and manufactured tobacco substitutes accounting for 1.0 percent of total export earnings.
Zambias export destinations
In the month of April 2010 the following countries were the top 5 for Zambias export destinations:
Switzerland 55.7 percent
China 20.5 percent
United Arab Emirates 6.0 percent
South Africa 5.5 percent
Democratic Republic of Congo 3.4 percent
United Kingdom 2.1 percent.
These countries accounted for 91.1 percent of Zambias total export earnings.
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