Business

Mealie-meal, bread prices drop

TRYNESS TEMBO, Lusaka
THE price reduction in mainly mealie-meal and bread has seen the annual inflation rate declining marginally to 6.6 percent in July, translating in a 0.2 percentage

point drop.
This means that there was a downward national average price for selected food items, translating in a 0.2 percentage point reduction compared to the June figure of 6.8 percent.
During the period under review, the price for both breakfast and roller meal decreased by 8.1 percent and 11.9 percent respectively, attributed to a bumper harvest of maize, which has flooded the market.
“The decrease in the annual food inflation rate is mainly attributed to price changes for bread and cereals [breakfast mealie-meal, roller meal and grain].
“On a monthly basis, between July and June shows that the national average price of a 25-kilogramme bag of breakfast mealie-meal decreased by 8.1 percent from K96.37 to K88.58 while roller from K74.73 to K65.84,” Central Statistical Office (CSO) director of census and statistics John Kalumbi said at a monthly briefing yesterday.
Of the total inflation rate, food and non-alcoholic beverages accounted for 2.9 percent while non-food items accounted for 3.7 percent.
“The annual food inflation rate declined from 5.8 percent to 5.3 percent due to a reduction in the price of cereals while non-food increased from eight percent to 8.1 percent due to increases in rentals,” Mr Kalumbi said.
Meanwhile, Zambia’s international merchandise trade for June has continued to fluctuate in deficit levels, which entails that the country has been importing more than it has been exporting.
“Zambia recorded a trade deficit valued at K335.2 million in June from K333.8 million recorded in May, representing a 0.4 percentage point increase,” he said.
The major export products in June were from intermediate goods category accounting for 81.5 percent, consumer goods, raw materials and capital goods categories, collectively stood at 18.5 percent.
In terms of major export destinations, Switzerland continues to top the list, accounted for 45 percent, followed by China at 17.5 percent, Singapore at seven percent while Democratic Republic of Congo and United Arab Emirates registered 6.2 percent and 3.7 percent respectively.
He also said the major imports products were capital goods accounting for 35 percent followed by consumer goods at 25.8 percent and intermediate goods and raw materials which accounted for 23.8 and 15.4 percent respectively.

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