March 2016 Zambian Inflation Recorded At 22.2%

March 2016 Zambian inflation went down from 22.9 percent in February 2016 to 22.2 percent in March 2016.

Announcing the annual rate of inflation, Mr John Kalumbi said the slowdown was mainly attributed to the decrease in prices of non-food items.

This means that on average prices increased by 22.2 percent between March 2015 and March 2016.

Annual Food Inflation

The March 2016 Zambian annual food inflation was recorded at 26.2 percent as compared to 26.4 percent recorded in February 2016.

The reduction in the annual inflation was due to reduction in prices of imported cooking oil, dried beans and groundnuts.

Annual Non - Food Inflation

The annual non-food inflation rate for March 2016 was recorded at 17.9 percent compared to that of February 2016 which was recorded at 19.1 percent.

The decrease was attributed to reductions in prices of motor vehicles such as Nissan hard body, Toyota corolla and Nissan Sentra and other items such as firewood and boom washing paste. 

Overall Annual Inflation Rate

The composition of 22.2 percent annual inflation rate recorded in March 2016 was as follows: Food and non-alcoholic beverage products accounted for 13.6 percentage points whereas non-food products accounted for 8.6 percentage points.

Provincial Annual Inflation Rates

Between March 2015 and March 2016, provincial annual inflation rates were recorded as follows:

  • North Western Province - 27.1 percent
  • Northern/Muchinga - 25.4 percent
  • Copperbelt Province – 19.8 percent

Overall Provincial Annual Inflation Rates

The composition of 22.2 percent provincial annual inflation rates were recorded as follows:

  • Central – 2.5%
  • Copperbelt – 4.4%
  • Eastern – 2.1%
  • Luapula - 1.2%
  • Lusaka – 6.0%
  • Northern/Muchinga – 1.7%
  • North – Western – 0.9%
  • Southern – 2.5%
  • Western – 0.9%

Average Prices For Some Selected Products

The following is a list of some selected products prices for the period between February 2016 to March 2016.

  • 25 kg bag of Breakfast Mealie meal – K 83.49 to K 85.25
  • 25 kg bag of Roller Mealie meal – K 66.31 to K 67.75
  • 20 Litre tin of Maize grain – K 42.87 to K 46.55
  • 50 kg bag of Cement – K 66.93 to K 66.04

Zambia Trade Deficit

Zambia recorded a trade deficit of K 683.1 million in February 2016 from a trade deficit of K 234.4 million in January 2016. The country imported more in February 2016 than it exported in nominal terms.

Major Export Destinations By Commodity

The major export destinations in February 2016 were as follows:

  • Switzerland – Cathodes – 37.5%
  • China – Copper blisters – 23.3%
  • South Africa – Bullion – 7.7%
  • Zimbabwe – Maize – 6.6%
  • United Kingdom – Sulphuric acid – 6%

These five countries collectively accounted for 81.1 percent of Zambia’s export earnings.

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