Zambia Inflation Slows To One Digit
Zambia's
inflation slowed in the year to December 2009, falling into
single digits for the first time in 21 months.
Data from the Central Statistical Office (CSO) showed that
inflation halted its upward trend to stay at 9.9 per cent
year-on-year in December from 11.5 per cent in November,
the first time it has been below 10 per cent since March
2008.
The statement by CSO said, ’’The decline of 1.6 percentage
points in annual inflation rate in December 2009 was as a result
of the decrease in some food prices".
It said Zambia recorded a trade surplus of 322.9 billion
kwacha in November after a surplus of 299.5 billion
kwacha in October.
Zambia's major export products in November were from
intermediate goods, mainly copper products.
In November, Central Bank Governor Caleb Fundanga said the
southern African state had revised its end-December 2009 annual
inflation forecast to 10 per cent.
The previous figure was 12 per cent, due mainly to
falling food prices.
NAN/Yinka
