ZAMBIA AUGUST INFLATION DROPS TO 8.3 PER CENT

Zambia’s annual inflation rate for the month of August has declined to 8.3 percent from 9.0 percent in July, 2011.
The decrease in the inflation rate has been attributed to reductions in food and non-food prices, the Central Statistical Office has revealed.
CSO deputy director William Makaya says of the total 8.3 percent annual inflation rate in August, 2011, food products accounted for 2.5 percent, while non-food products in the consumer price index accounted for a total of 5.8 percent.
Mr. Makaya further reveals that the annual food inflation rate was recorded at 5.4 percent decreasing from 5.9 percent in July, 2011.
He says that a comparison of retail prices between July, 2011 and August, 2011, shows that the national average price of a 25 KG bag of white breakfast mealie meal slightly reduced by 0.3 percent, from 47,987 to 47,855.
He adds that the national average price of a 25 KG bag of white roller mealie meal slightly increased by 0.2 percent , from 33,536 to K 33,604.
He says the average price of 1KG of dried kapenta reduced by 5.5 percent from K55,179 to 52,132, while the average price of 1kg of tomatoes reduced by 8.4 percent, from K 4,492 to K4,114.
Mr Makaya however, says the national average price of a 20 liter tin of maize grain increased by 4.2 percent, from K 16,978 to K 17,678.
Zambia also recorded a trade surplus valued at 4-hundred and 40 billion Kwacha representing a growth of 19.7 percent for the month of July.
In June the country recorded 527.3 billion Kwacha surplus which means the country exported more in value terms than it imported.
The major export products include copper consumer goods and raw materials.