September 2009 Zambian Inflation drops to 13.0 percent from 14.0 percent in August 2009

The September 2009 Zambian inflation rate went down to 13.0 percent from 14.0 percent in August 2009.

Making the announcement on 24the September 2009, Central Statistics director Efreda Chulu said this was as result of reductions in some food prices, new motor vehicles and air fares.

The reasons for the reduction in air fares and cost of vehicles was as a result of the appreciation of the Kwacha against the US dollar between August 2009 and September 2009.

Composition in the September 2009 Zambian inflation of 13 percent

Food products accounted for 6.8 percentage points, and non-food products accounted for 6.2 percentage points.

Annual food inflation

The annual food inflation decreased from 14.6 percent in August 2009 to 13.9 percent in September 2009.

Decreases in the cost of white breakfast meal, fish, kapenta, fresh vegetables and sugar were recorded in the period.

Non-food inflation – 12.1 percent

The September 2009 Zambian inflation on non-food items was recorded at 12.1 percent. This was a reduction from 13.9 percent recorded in the month of August 2009.

Prices for some selected products

Between August 2009 and September 2009 a 25 kg bag of white breakfast meal reduced by 0.4 percent, from K62, 521 to K 62, 249. A 1 kg of tomatoes reduced by 10.7 percent, from K 4,217 to K 3,766, while the price of dried kapenta (Mpulungu) reduced by 3.5 percent, from K 53,393 to K 51,514.

However, the price of a 25 kg bag of white roller meal increased by 2.7 percent, from K 43,408 to K 44,599, while the price of a 20 liter tin of maize grain increased by 3.5 percent, from K 21,712 to K 22,474.

August 2009 trade surplus

For three consecutive months, Starting form June 2009 to August 2009 the country recorded trade surpluses. In month of August 2009 the trade surplus was valued at K504.4 billion. This means that the country exported more in August 2009 than it imported in value terms.

Major export destinations

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

Switzerland – 30 percent
Democratic Republic of Congo – 22.5 percent
China – 9.9 percent
South Africa – 6.3 percent
United Kingdom – 3.1 percent.

Major Export products in August 2009

The five major exports which accounted for 81.3 percent of Zambia’s export earnings were as follows:

• Copper and articles thereof accounting for 64.0 percent of total export earnings.
• Ores, slag and ash accounting for 7.3 percent of total export earnings.
• Sugar and sugar confectionery accounting for 3.6 percent of total export earnings.
• Tobacco and manufactured tobacco substitutes accounting for 3.2 percent of total export earnings.
• Wood and articles of wood; wood and Charcoal accounting for 3.2 percent of total export earnings.

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