}

September 2008 Zambian Inflation stood at 14.2 percent

The September 2008 Zambian inflation rate reached 14.2 percent as a result of increases in the cost of transport, rent and household energy.

Changes in the annual inflation rates

From August 2008 to September 2008, the annual inflation rates increased for rent, and household energy, furniture and household goods, transport and communication, recreation and education.

In the same period, the rates for food beverages and tobacco, clothing and footwear, medical care, and other goods and services declined.

Contribution of different items to the September 2008 Zambian inflation

The rise in the September 2008 Zambian inflation from 13.2 percent in August 2008 to 14.2 percent in September 2008 was due to increases in the cost of transport (fuel, air fares, and new motor vehicles), rent and household energy, furniture and household goods.

In September 2008 Zambia inflation figures, food products accounted for 7.8 percentage points while non-food products accounted for 6.4 percentage points.

Annual food inflation rate – 16.2 percent

The annual food inflation rate which was recorded at 16.2 percent was mainly due to increases in the cost of maize meal, maize grain, other cereals and cereal products, kapenta and processed food products.

Decreases in prices were also recorded in the cost of fresh vegetables, meat, sugar and dried beans.

Annual Non-food inflation

The annual non-food inflation rate increased from 10.4 percent in August 2008 to 12.4 percent in September 2008.

Maize grain prices continued to increase in September 2008

A comparison of the national average retail price movements from August 2008 to September 2008 showed the following:

  • The price of a 25 kg bag of roller meal increased by 5.8 percent from K 38,370 to K 40,577.
  • The price of a 20 liter tin of maize grain increased by 6.2 percent, from K 18,865 to K 19,719.
  • The price of 1 kg of dried kapenta (Siavonga) rose to 3.9 percent,
  • The price of 1 kg of tomatoes declined by 8.4 percent.

August 2008 Trade Deficit – K313.7 billion

In the month of August 2008 Zambia recorded a Trade Deficit valued at K 313.7 billion. The country exported less in August 2008 than it imported in value terms.

Zambia’s Major Exports In August 2008

The five products categories which accounted for 87.9 percent of Zambia’s export earnings were as follows:
  • Copper and articles thereof accounted for 59.1 percent of total export earnings.
  • Ores, slag and ash accounted for 19.3 percent of total export earnings.
  • Other base metals such as cobalt which are copper related accounted for 4.3 percent of total export earnings.
  • Sugar and sugar confectionery accounted for 3.1 percent of total export earnings.
  • Tobacco and manufactured tobacco substitutes accounted for 2.1 percent of total export earnings.

Zambia’s Major Exports Destinations by Products in August 2008

The five major destinations of Zambia’s exports were the following:

Switzerland – 68.2 percent
South Africa – 9.1 percent
Democratic Republic of Congo 6.2 percent
Mauritius – 2.3 percent
Netherlands – 2.2 percent

These five countries accounted for 88.0 percent of Zambia’s export earnings.



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