}

October 2009 Zambian Inflation dropped to12.3 percent from 13.0 percent in September 2009

The October 2009 Zambian inflation rate went down again to 12.3 percent from 13.0 percent in September 2009. Contributing to this were decreases in some food prices such as white breakfast meal, fresh vegetables and items such as household goods, and transport and communication.


The October 2009 Zambia inflation figures were released by Central Statistics Office (CSO) director Efreda Chulu on 27th October 2009.

Changes in the annual inflation

Between October 2008 and October 2009, the annual inflation rates increased for clothing and footwear; recreation an education; rent, fuel and lighting; medical care; and other goods and services. Chuulu however said the annual inflation rate reduced for food, beverages and tobacco; furniture and household goods; and transport and communication.

Contribution of different items to the October 2009 Zambian inflation

The total October 2009 Zambian inflation was made up of the following: Food products which accounted for 6.0 percentage points and non-food products accounted for 6.3 percentage points.

Annual food inflation rate

The annual food inflation decreased from 13.9 percent in September 2009 to 12.3 percent in October 2009.

The items that contributed most to the decline in food inflation were: Decreases in the cost of white breakfast meal, fresh vegetables, dried fish, dried kapenta, dressed chicken, cooking oil and milk products.

Chulu however said increases were recorded in the cost of white roller meal, maize grain, meat, dried beans, sweet potatoes, alcoholic drinks, table salt, and other processed food products.

Non-food inflation – 12.3 percent

The October 2009 Zambian inflation on non-food items was recorded at 12.3 percent. This was an increment from 12.1 percent recorded in the month of September 2009.

Prices for some selected products

Between September 2009 and October 2009 a 25 kg bag of white breakfast meal reduced by 1.1 percent, from K62, 249 to K 61,539. A 1 kg of tomatoes reduced by 13.7 percent, from K3, 766 to K 3,250, while the price of dried kapenta (Mpulungu) reduced by 3.0 percent, from K 51,514 to K 49,983.

However, the price of a 25 kg bag of white roller meal increased by 1.4 percent, from K 44,599 to K 45,244, while the price of a 20 liter tin of maize grain increased by 1.7 percent, from K 22,474 to K 22,845.

September 2009 trade surplus

For four consecutive months, starting form June 2009 to September 2009 the country recorded trade surpluses. In the month of September 2009 the trade surplus was valued at K 302 billion. This means that the country exported more in September 2009 than it imported in value terms.

Major export destinations

In the month of September 2009 the following countries were the top 5 for Zambia’s export destinations:

Switzerland – 46.5 percent
South Africa – 12.7 percent
China – 11.0 percent
Democratic Republic of Congo – 9.4 percent
United Kingdom – 2.9 percent.

Major Export products in September 2009

The five major exports which accounted for 84.5 percent of Zambia’s export earnings were as follows:

  • Copper and articles thereof accounting for 62.0 percent of total export earnings.
  • Ores, slag and ash accounting for 13.0 percent of total export earnings.
  • Boilers, machinery and mechanical appliances accounting for 3.7 percent of total export earnings.
  • Sugar and sugar confectionery accounting for 3.3 percent of total export earnings.
  • Tobacco and manufactured tobacco substitutes accounting for 2.5 percent of total export earnings.

Real GDP expected to be K 4 trillion in the year 2009

Meanwhile, Chulu said estimates indicated that the Zambian economy was expected to grow by 6.3 percent in the year 2009.

She said the reason for this was the expected strong growth in agriculture, forestry, fishing, mining and quarrying and construction.

She added that in value terms real GDP was expected to be K 4 trillion compared to K 3.8 trillion in 2008.

In nominal terms the GDP was expected to increase to K 64 trillion in 2009 from K 55 trillion in 2008.



Booking.com



Recent Posts

  1. Sandys Lodge – Five Star Luxury Accommodation

    Sandys Lodge “five star” accommodation in Lusaka is for everything you need, from leisure to business!

    Read more

  2. Lake Kariba Inns Is Your Lakeside Resort

    Lake Kariba Inns is ideally located on the shores of the lake Kariba, one of the biggest man-made lakes in the world and by volume it is the largest man-made lake in Africa.

    Read more

  3. Floriana Executive Lodge Is A Five Star Service Lodge

    Floriana Executive Lodge offers five star services in Solwezi, next to The Royal Solwezi Hotel.

    Read more



New! Comments

Have your say about what you just read! Leave me a comment in the box below.






October 2009 Zambian Inflation To Zambian Inflation

October 2009 Zambia Inflation To Zambia Advisor Home



Booking.com