By JUDITH NAMUTOWE? -
ZAMBIA’s annual inflation rate in February slowed down by 0.3 per cent to 7.4 from 7.7 per cent recorded in January 2015, as the country records a trade deficit of K113.7million.??This means that on average, prices decreased by 7.4 per cent between February 2014 and February 2015.
Central Statistics Office (CSO) acting director for census and statistics Goodson Sinyenga said at a media briefing in Lusaka yesterday that, of the total 7.4 per cent annual inflation rate?recorded in February 2015, food and non-alcoholic beverage products accounted for 3.9 percentage points.
The non-food products accounted for 3.5 percentage points.
“The annual food inflation rate for February 2015 was recorded at 7.6 per cent compared to 7.4 per cent recorded in January 2015.
“This indicates an increase of 0.2 percentage points. The annual non-food inflation rate for February decreased to 7.3 per cent from 8.0 per cent recorded in February 2015,’’ Mr Sinyenga said.??Mr Sinyenga said in terms of comparison of retail prices between January, 2015 and February, 2015, the average price of a 25 kilogramme (KG) bag of a breakfast mealie meal increased by 0.4 per cent from K70. 69 to K71, while the national average of K25 kg bag of roller meal also increased by 3.2 per cent from K30.28 to K31.19.
He said a comparison of retail prices between January and February 2015 shows that the national average of one litre of petrol decreased by 23.0 per cent from K9.92 to K7.63, while the national average of diesel decreased by 27.7 per cent from K9.24 to K6.68.
Meanwhile, Zambia recorded a trade deficit valued at K113.7 million in January 2015 from a trade deficit of K72.7 million recorded in December 2014.
Mr Sinyenga said this means that the country imported more in January 2015 than it exported in nominal terms.