August 2008 Zambian Inflation Escalated to 13.2 percent
The August 2008 Zambian inflation rate was recorded at 13.2 percent as a result of increases in the cost of food and fuel.
Changes in the annual inflation rates
From July 2008 to August 2008, the annual inflation rates increased for food, beverages and tobacco, transport and communication
and recreation and education subgroups.
In the same period the rates for clothing and footwear, rent and household energy, furniture and household goods, medical care
and other goods and services main groups declined.
Contribution of different items to the August 2008 Zambian inflation
The rise in the August 2008 Zambian inflation from 12.6 percent in July 2008 to 13.2 percent in August 2008 was due to
increases in the cost of transport (fuel, air fares, and new motor vehicles), food, beverages and tobacco.
In the month of August 2008, food products accounted for 7.8 percentage points while non-food products accounted for 5.4
Annual food inflation rate 16.3 percent
The annual food inflation rate which was recorded at 16.3 percent was mainly due to increases in the cost of maize meal,
maize grain, other cereals and cereal products, meat, kapenta, cooking oil, dried beans, shelled groundnuts and tubers.
Decreases in prices were also recorded in the cost of fresh vegetables, sugar, and other processed food products.
Annual Non-food inflation
The annual non-food inflation rate decreased from 11.2 percent in July 2008 to 10.4 percent August 2008.
Maize grain prices increased in August 2008
A comparison of retail prices in the period indicated the following:
- The price of a 25 kg bag of roller meal increased by 9.6 percent from K 35,011 to K 38,370.
- The price of a 20 liter tin of maize grain increased by 9.7 percent, from K 16,926 to K 18,565.
- The price of 1 kg of dried kapenta (Chisense) increased to 13.4 percent,
- The price of 1 kg of tomatoes declined by 20.0 percent.
July 2008 Trade Surplus
In the month of July 2008 Zambia recorded a Trade Surplus valued at K 58.3 billion. This meant that the country exported more
in July 2008 than it imported in value terms.
Zambias Major Exports In July 2008
The five products categories which accounted for 89.6 percent of Zambias export earnings were as follows:
- Copper and articles thereof accounted for 52.6 percent of total export earnings.
- Ores, slag and ash accounted for 25.7 percent of total export earnings.
- Other base metals such as cobalt which are copper related accounted for 5.6 percent of total export earnings.
- Boilers, machinery & mechanical compliance parts accounted for 4.2 percent of total export earnings.
- Tobacco and manufactured tobacco substitutes accounted for 1.5 percent of total export earnings.
Zambias Major Exports Destinations by Products in July 2008
The five major destinations of Zambias exports were the following:
Switzerland 40.9 percent
Democratic Republic of Congo 23.9 percent
South Africa 8.7 percent
Egypt 5.7 percent
China 3.2 percent
These five countries accounted for 82.4 percent of Zambias export earnings.
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