}

The July 2009 Zambian Inflation Stood at 14.0 percent

The July 2009 Zambian inflation reduced to 14.0 percent, from 14.4 percent recorded in June 2009.


The reduction in the July 2009 Zambia inflation was attributed to reductions in the prices of non-food products.

Annual Inflation

In the period from June 2009 to July 2009 the annual inflation rates increased for food beverages and tobacco, clothing and foot wear, recreation and education and medical care.

But the inflation rates reduced for lighting, rent and fuel; furniture and household goods; transport and communication; and other goods and services.

Composition in the 14 percent annual inflation

Food products in the Consumer Price Index (CPI) accounted for 7.3 percentage points, while non-food products accounted for 6.7 percentage points.

Annual food inflation

In July 2009 the annual food inflation was recorded at 14.9 percent. In June 2009 the figure was 14.1 percent.

What contributed most to the increase in food inflation in July were increases in the cost of cereals and cereal products; fish; kapenta; dried beans; cooking oil; fresh milk and milk products; tea, coffee and other processed food products.

However, other food products recorded reductions, such as white breakfast mealie meal; white roller mealie meal; fresh vegetables; irish potatoes; maize grain and meat.

Non-food Inflation

The non- food inflation rate stood at 13.1 percent. Clearly this was a reduction from 14.7 percent that was recorded in June 2009.

Prices of selected products

The July 2009 Zambian Inflation was also affected by reductions in prices of the following products:

A 25 kg bag of white breakfast mealie was K 63,201 in July 2009 from K 64,966 in June 2009; a 25 kg of white roller meal was K 44,413 in July 2009, from K 46,419 in June 2009; a liter tin of maize grain was K 20, 886 in July 2009 from K 21,244 in June 2009; 1 kg of tomatoes was K 4,588 in July 2009 from K 4,863 in June 2009.

However, an increase in price was recorded in the price of kapenta. 1 kg of dried kapenta (Siavonga) rose to K 45,072 in July 2009 from K 43,945 in June 2009.

Zambian trade surplus

In the month of June 2009, Zambia recorded a trade surplus of K 359.7 billion. The country exported more in June 2009 than it imported in value terms.

Major export destinations

In June 2009 the five major destinations for exports were Switzerland (41.0 percent), South Africa (8.0 percent), China (7.8 percent), Democratic Republic of Congo (6.7 percent) and Egypt (6.3 percent).

These countries accounted for 69.8 percent of Zambia’s export earnings.



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