November 2010 Zambian Inflation Goes Down To 7.1 Percent And Trade Deficit of K 451.5 billion Recorded

The November 2010 Zambian Inflation rate reduced once again to 7.1 percent as a result of continued reductions in food prices.

The November 2010 Zambia inflation figures were released by Central Statistical Office acting director Mr. John Kalumbi on 25th November 2010.

Kalumbi said the reduction in the country’s annual inflation rate between October 2010 and November 2010 resulted from reduced prices for food beverages, tobacco, recreation and education.

The acting director said this happened despite the fact that annual inflation rates increased for clothing, footwear, household fuel, medical care among other goods and services.

October 2010 Zambian Trade Deficit

For the first time since June 2009 the Zambian government recorded a trade deficit in the month of October 2010 amounting to K 451.5 billion. The trade deficit meant that the country imported more than it exported in value terms.

Mr. Kalumbi said this was caused by the increased importation of petroleum products as the result of the closure of Indeni Petroleum Refinery for the routine maintenance.

The other reason was the continued appreciation of the kwacha against major convertible currencies which negatively impacted on the country’s trade balance as earnings from exports got depressed.

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