Zambia has recorded a 1.6 percent decline in the annual inflation rate.
The decline translates to 9.9 percent in December from 11.5 percent in November, 2009.
Central Statistics Office (CSO) Director Efreda Chulu says the decline in the annual inflation rate is due to the decrease in some food prices on the Zambian market.
Ms Chulu announced this in Lusaka today when she unveiled the CSO monthly bulletin for the month of December.
Ms Chulu also observed that price increases recorded between November and December are lower compared to price increases between the same months in 2008.
Ms Chulu however, said price increases in most essential consumer goods such as mealie-meal, maize grain, cereal products, cooking oil among other processed food stuffs were recorded this month.
She stated that the national average price of a 1 x 25 kg bag of white roller meal increased by 3.1 percent from K46,289 to K47,736 while the average price of a 20 litre tin of maize grain increased by 6.1 percent from K24,325 to K25,806
Meanwhile Ms Chulu has disclosed that Zambia’s major exports in November 2009 were copper, slag and ash which accounted for 81.1 percent of the country’s export earnings while sugar confectionery accounted for 2.0 percent of the total export earnings.
Zambia exported goods last month (November) mainly to China, Democratic Republic of Congo, South Africa and Switzerland.
ZANIS
Some welcome news. Veteran and Patriot are going to love this. Imwe Bantu Maestro hhe hhe aliku?
Statistically on paper the country is doing fine but main issues remain unresolved:
-This inflation decline means nothing if essential consumer goods prices keep souring.
-Main export is still copper meaning Zambia is still dependent on copper. By now we need to be seeing a split of 33.333% from Copper, 33.333% from Agricultural produce & 33.333% from Production industries.
-The government needs to carefully study these statistics than just celebrating that “we performed well in 2009” – the question still remains “you performed well to whose benefit?????”
Yes, such figures are always welcome – especially if they have a positive effect on food prices on the local market. I just love it when the Headline story on LT is not political – lets talk progressive economics for a change….Veteran & Patriot can continue spitting politics as usual.
#1 I have also been wondering why Maestro has been so silent. He probably has a massive assignment to cattend to. In any case, his contributions are missed by many here.
Zambia you deserve all the blessings from the almighty creator for the services you have rendered to manking around you even if if it was beyond your reach you reached.Economically you will reach the higher hights by the help of Almighty creator. HAPPY NEW YEAR MOTHER ZAMBIA..THE INFLATION SHALL KEEP FALLING.
This is welcome news. Inflation robs those on fixed incomes. A few important note though:
(i) The composition of the CPI is outdated and needs to be revised (talk-time is not included);
(ii) It is concerning that over 80% of exports are driven by copper. With a near doubling of output from NW province the Kwacha shall gain excessive strength. This will choke other possible areas of export growth. Thus making us less able to diversify away from copper.
(iii) Lets have more non-political headlines as Nine Chale says.
This is what I was saying yesterday. The present administration has scored with some successes but a lot still needs to be done. This is good news regards inflation but the diversification of the economy is not happening as fast as I personally would hope. Well done to the government but dont rest on your laurels.
HOW ABOUT SOMETHING LIKE ‘ UTH has reduced number of deaths due to improved health provision’. I’ve started to hate the macro nonsense because they mean nothing to ordinary Zambians, please don’t announce them to everybody but only provide them on request. Very annoying to say the least.
9.9% inflation does not mean anything to the ordinary Zambian as long as they cannot access basic needs.
I have just read PF’s end of year speech by Mr Given Lubinda published by the Post.His speech is hollow. It is a chilling foretaste of what it means to be ruled by the PF UPND. The Pact has taken ignorance and illusions to new heights. How can Zambia leverage a country the size of China? I am asking purely because PF UPND pact hates Chinese investments. As usual in their deceptive manipulation of data, PF have failed to acknowledge that MMD blunted the effects of Global recession. The Pact has failed to accept that Zambia has the highest financial reserves in 38 years. They have failed to accept that the Chinese have reopened the Luansya Mine with US$400 Million investment. What about the Nakabala sugar expansion with millions of dollars? PF stop insulting our intelligence, tell the…
#9 Nyau Dancer
I presume even your mind looks like the ugly nyau outfit. Only a deluded retard would be content with dollar reserves and private investment in a non parastatal company, how far low are you MMD scrougers going to sink? We’ve advised you time and again to provide us with micro-social variances for the past one year and not the tired inflation, dollar reserve figures because they mean nothing to your mother in Matumbo or Shang’ombo. Probably you morons are so fascinated with them buzzy terms that you forget about the basics. Talk about e.g
1. How many streetkids are off the streets.
2. Our elderly citizens who are dying of hunger
3 Percentage decrease in malaria cases
4. ill treatment of our people by useless investors
the list goes on and on.
wow LT how did you censor that word
Nyau dancer you are right. MMD is doing a great job and their detractors would rather kill themselves than acknowledge that. However facts are facts. To those people who say that the fall in inflation means nothing all I have to say is that look at what happened in Zimbabwe. According to FAO agriculture is doing well, the number of people living in absolute poverty is falling. So what more do you fools?
#12 PETER CHIPONGWE
Did you say what more do we want even when the inflation is 9%? What us fools want is your mother to be able to have access to reasonable health care and your uncle who retired 3 yrs ago to get his money without having to bribe the con men at pension house. Is that request unreasonable if i may as you Mr Chipango.
I repeat please no more talk about inflation, dollar reserves and other terms that just make us even more mad with your President.
Msana you seem to be suffering pre menstral temper, I am surprised you are calling me a retard just because you can’t aticulate issues. If you want insults, I have a catalogue.
#13 Do you know how many people are now receiving ARVs? What about the new hospital that has been built in Lusaka? Nobody is saying that Zambia is a paradise but it is completely wrong to say that things are not improving. Maybe a bit slow for you but the main point is that things are moving in the right direction. Inflation does matter because when it falls it literally means that people have more money in their pockets. You would not dispute the figures if it stated that inflation had increasedl. When the news is positive you want to reject it outright simply because you dont like MMD. Well too bad for you the facts speak for themselves and you are welcome to bury your thick head in the sand of negativity if want and I sincerely hope you suffocate.
Whats there to thank the MMD for when PRICES OF ESSENTIAL FOOD STUFFS HAS GONE UP??? Whats more worrying for 80% of Zambians is to fill the tummy everyday they wake up. Some of you bloggers amaze me with your mindless contributions.