The March 2012 Zambian Inflation Went Up To 6.4 Per cent

Due to the rising food prices, the March 2012 Zambian inflation rate was pushed to 6.4 per cent. In fact, the March 2012 Inflation rate of 6.4 per cent was more than the 6.0 per cent reported in February 2012, which was the lowest in at least 10 years.

Central Statistical Office (CSO) director Mr John Kalumbi who announced the figures on March 29, 2012 attributed the rise in the inflation rate to increases in the prices of food and non-alcoholic beverages which on average increased by 1.5 per cent between February 2012 and March 2012.

Mr Kalumbi said the annual inflation rate increased for food and non-alcoholic beverages, alcoholic beverages and tobacco.

Rising prices were also recorded in housing, water and electricity, recreation and culture and miscellaneous goods and services.

The annual inflation rate for food was recorded at 6.3 per cent in Mach 2012 from 5.5 per cent in February 2012.

Food and non-alcoholic beverages accounted for 3.3 per cent while non-food products in the CPI accounted for a total of 3.1 per cent.

The retail price of a 25kg bag of white breakfast increased from K 42, 828 to K 44,388 while that of a 20 litre tin of maize grain increased from K 19,308 to K 19,467, between February 2012 and March 2012.

Growth Of The Zambian Economy In 2011

The Central Statistical Office also announced that the Zambian Economy grew by 6.6 per cent in 2011 as compared to the growth of 6.7 per cent recorded in 2010.

BoZ Policy Rate

Meanwhile, the Central Bank has now come up with a policy. From now on, it will be announcing a monthly policy rate (Interest Rate) which will help steer the Zambian economy towards price stability.

This means that the standard practice of quoting the price of loans and credit products by all commercial banks will be the BoZ Policy Rate plus a margin which commercial banks will set, based on their risk assessment.

Other Related Pages on The Zambia Inflation

Zambian Inflation Figures For 2012

Zambian Inflation Figures For 2011

Zambian Inflation Figures For 2010

Zambia Inflation Figures For 2009

Zambian Inflation Figures For 2008

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