Gold deliveries declines

Total gold deliveries for the month of February 2012 stood at 927,98 kgs representing a decline of 13 percent from January 2012’s deliveries of 1 058.16 kgs a report by African Development Bank (ADB) released today said.

According to the information made available, both small-scale producers and primary producers registered a decline in their February gold deliveries with 19,96 percent and 9,5 percent, respectively as compared to their January deliveries. However, comparing gold deliveries for

January and February 2012 with the same period last year, gold deliveries in January 2012 for both small-scale gold producers and primary producers

registered a positive growth as compared to January 2011, with 91,3 percent and 35,65 percent,respectively. This represented an increase of 45,3 percent in total gold deliveries, whilst gold deliveries

in February 2012 registered a positive growth as compared to February 2011 with total gold deliveries growing by 32,55 percent, whilst contribution by

small scale producers and primary producers grew by 37.7 percent and 31.27 percent, respectively.

ADB said Zimbabwe's annual inflation increased from 3,04 percent in February 2011 to 4.31 percent in February 2012.

In January 2012, annual inflation stood at 4,31 percent. In February 2012, annual food and nonfood inflation stood at 5.01 percent and 4,01 percent, respectively. Key factors underpinning annual inflation included Communication (11.66 percent);

Housing, Water, Electricity, Gas and Other Fuels (10,65 percent); Alcoholic Beverages and Tobacco (6.97 percent); Education (5.31 percent) and Food & Non-Alcoholic Beverages (5.01 percent). On a month-on-month basis, inflation increased from

0.46 percent in January 2012 to 0.49 percent in February 2012. In February 2012, month-on month food and non-food inflation stood at 0.41percent and 0.48 percent, respectively.-

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