INFLATION MAINTAINS DOWNWARD TREND

The country’s annual inflation rate maintained the downward trend as that for month of April has declined by 0.4 percent.

Inflation now stands at 8.8 percent compared to 9.2 percent in March 2011.

The downward adjustment in the rate of inflation, which is measured by the all items consumer price index, has been attributed to reductions in the prices of food and some non-food items.

Central Statistical office Acting Director of Census John Kalumbi has explained that food products in the 8.8 percent represent 1.6 percent while non food items account for the remaining 7.2 percent.

Mr Kalumbi in outlining the food reductions notes that retail prices between March and April 2011 have recorded some reductions as evidenced in products like Mealie-Meal, Dried Kapenta, tomatoes and vegetables like rape.

And the country has recorded another trade surplus for the March 2010 statistics gathered by the national data collection office.

CSO acting Director John Kalumbi has explained to journalists that Zambia exported more than it imported hence the trade surplus for March now stands at 862.3 billion kwacha compared to 645.2 billion kwacha in February.

Mr Kalumbi has disclosed that mining sector has continued making the largest contributions to the exports being made by the country through items such as copper cathodes, refined copper and copper blisters.

Among the top countries and regions the country has been exporting to, the CSO acting director names Switzerland in Europe, China in Asia as well as African countries like South Africa, the DRC and Zimbabwe as major export destinations.

Mr Kalumbi is further pleased that the first quarter of 2011 has had trade surpluses which also show that the country’s trade balance has faired well compared to the same period in the year 2010.

ENDS.