By JUDITH  NAMUTOWE –
ZAMBIA’s Inflation has marginally increased by 0.1 per cent to 7.7 per cent, while trade surplus has dropped sharply to K59 million from an-all high figure of K296 million recorded in February, 2014.
Central Statistics Office (CSO) director John Kalumbi said the annual rate of inflation as measured by the all-items Consumer Price Index (CPI) for March was recorded at 7.7 per cent compared to the 7.6 per cent recorded in February 2014, as prices went up drastically between March, 2013 and the corresponding  period in 2014.
“This means that on average, prices increased by 7.7 per cent between March 2013 and March 2014. The overall index went up to 138.67 in March, 2014 from 128.81 in March 2013,”
Of the total 7.7 per cent annual inflation rate recorded in March 2014, food and non-alcoholic beverage products accounted for 3.9 percentage points, while food products accounted for a total of 3.8 percentage points.
In terms of comparison of retail prices between February and March 2014, Mr Kalumbi said this shows that the average price of a 25 kilogramme bag of Breakfast mealie-meal increased by 0.3 per cent from K72.31 to K72 .55, while the national average price of a 25 kilogramme bag of roller meal increased by 1.3 per cent from K56.82 to K57.54.
The national average price of a 20 litre tin of maize grain increased by 5.4 per cent from K32.93 to K34.72.
Mr Kalumbi said Northern and Muchinga provinces had the highest provincial contribution of 9.7 per cent followed by Western province which contributed 9.2 per cent.
“Central Province had the lowest contribution of 6.2 per cent, “ Mr Kalumbi said.
Mr Kalumbi said Zambia’s  recording of a trade surplus valued at K59 million in March 2014, from K296 million recorded the previous month in February meant that the country exported more in the month under review than it imported in nominal terms.
The highest trade surplus was recorded in April 2013 valued at K364 million and the lowest was recorded in November 2013 at K4 million.
Zambia’s major export products in February 2014 were from the intermediate goods category, mainly comprising copper cathodes and sections of refined copper, accounting for 84.5 per cent.
“Other exports were from the raw materials, consumer goods and capital goods categories which collectively accounted for 15.5 per cent of the total exports in 2014.
This implies that between February 2013 and February this year, the country has been a net exporter of intermediate goods mainly from metals and their articles, accounting for an average of 83.7 per cent of the total exports.