Inflation in Zambia fell to 8.1 percent in November from 8.7 percent in October due mainly to a reduction in fuel prices introduced by new President Michael Sata, its statistics agency said on Thursday.
A poll of 10 analysts surveyed by Reuters this week said inflation in Africa’s biggest copper producer should average 9 percent in 2011, before slowing to an average of 7.9 percent in 2012.
Chibamba Kanyama, a member of the Economic Association of Zambia, said inflation was likely to remain stable in the next few months despite an expected increase in consumption in the final month of the year.
“End-year festive demand will have a slight impact but food prices will remain stable owing to a reduction in maize prices,” Kanyama said.
Sata’s administration, which came to power at the end of September, unveiled an expansive pro-poor budget earlier this month, although there was no relaxation in monetary policy that has largely kept a lid on prices for the several year.
The Central Statistics Offices also said Zambia recorded a trade surplus of 187.5 billion Zambian kwacha ($37 million) in October, from 1,179 billion in September. ($1 = 5,105 Zambian kwacha)
[REUTERS]
The policeman president has done beated the economist chaps. He has no Governer but inflation has droped with a big margin. We have already started reaping what we sowed. VIVA Mukolo.
Good work by HE MCS. But please give us a BoZ governor. And please don’t restrict the appointment to PhD holders. Some of these PhDs are not worth because of where they have been obtained and the field of specialization
and chibamba was bragging that inflation would be high if qovtment increased the minimum wage. wait and see wat sata will do.they will be very ashamed. lets go PF.
Where are those who were saying ZMK400.00 on fuel has nothing to do??? See what the 400kwacha has done for us. U will remain complaining while us are working.
The Central Statistics Offices also said Zambia recorded a trade surplus of 187.5 billion Zambian kwacha ($37 million) in October, from 1,179 billion in September. ($1 = 5,105 Zambian kwacha). Here RB scored.
Suddenly PF cadres are now excited about trade surplus and Inflations numbers. This is interesting. Of course this government is still running on the sound policies set by the MMD and even the budget reflects that. I don’t think PF needs credit for these numbers. Am giving them 2013 to really see any dent that PF would make to thins economy. Otherwise it is MMD all the way, hate it or love it. Just don’t accept take credit for the good effects MMD did to create this environment and yet condemn the errors and distance your self in the name of these are obligations previous entered into. Take the full pie and don’t cherry pick.
Surplus has nose dived to less than1/6 of RB figures, really ominous.
#[email protected] toot toot!
Down to 5% next year! Just wait and see. At the moment we`ve got a small matter of dealing with you thieves!
#5 the reason for the inflation drop is clearly stated in the article. PF also believes that these economic indicators are meaningless if they do not get down to benefit the pipo. As for me I know my salary will about 300 pin higher when the next k1m is not taxed, will pay less on mealie meal and less on fuel. Mines re paying mo taxes. Things RB failed to do in 3 yrs and MMD in 20yrs. And Austin Liato burying k2.1 billion in the back yard. I am sure he was hopping it will grow
Good news. Glad to see inflation is still under control. Good job PF Govt.
Iwe chi MMD Chief bootlicker, you mean we should celebrate when people stash K2.1 billion in graves? Kwena nshamonako that type of thinking. I also hear a 19 year old boy has $250,000.00 in his account and you expect me to celebrate MMD, Movement for Mad Dogs. Infact we should ban MMD forever and send its core leaders to jail and throw away the keys. Bushilu bwa corruption ubo. If that corruption was not there, we should have even been doing better than where the stupid thieves left us. With all time high copper prices in Africa’s largest copper producer and you come here to write such. Holy Crrap!!!
ineresting PF support 1st they where not interested in these figures. Suddenly they are interested.. You are still running with MMD budget and ideas at the moment. Yours will be effected in april next year and wait a few months then you will see. But foreign curreny rate you can use for current happenings and its very bad. Dollar is at 5,200!!!!!???!!! emwe.. prices in zambia have shot up like no mansd business