Zambia has maintained the single digit inflation rate by further recording a reduction in the annual inflation rate for the month of October.
The annual inflation rate as measured by the all items Consumer Price Index (CPI), reduced to 7.3 percent in October, 2010, from 7.7 percent recorded in September, 2010.
Central Statistical Office (CSO) acting Director John Kalumbi said in Lusaka today during the presentation of the monthly bulletin that the decline in the rate of inflation is attributed to the reductions in the cost of non-food items.
Mr. Kalumbi said the annual food inflation rate was recorded at 3.4 percent in October, 2010 which represents an increase from the 2.8 percent recorded in September, 2010.
He has further added that the annual inflation rate of non-food items was recorded at 11 percent in October, 2010 saying that this is a decrease from 12.5 percent recorded in September.
Mr. Kalumbi said the annual inflation rate reduced for items such as clothing and footwear, household fuel and lighting.
Other non-food items that contributed to the decrease in inflation are furniture and household goods, medical, transport and communication, recreation, and education.
[ QFM ]
this is nonsense..what reduction when the prices of commodities are so high on the market!vimitu..atase!
wait for tomoro and listen to the crap we ll hear from thwe politicians about how wel lthey think they are working hence the reduction in inflation
#1 you are right. What anyo inflation rate? Are people going to anyo inflation rate?
Good News. Single digit inflation is welcome.
” Inflation reduces to 7.3 percent ”
But bank lending rates do not. I wonder why.
This is good news indeed,but this should be reflected in the living standard of the pipo,banks’lending rates that are so stuborn.Another thing is that as we are going towards 2011 election in Zambia please leaders dont cook data because u are just cheating ur children.It is a normal thing to develop the countryb and every citizen should stive to achieve that go.Please dont cheat because u look foolish in the eyes of us ur children ,parents.huh parents dont be stupid lets just do the right thing.if we as children know that hard work is the way to go y cheat.tamwakwata amano mwebafyashi ba nomba ka?development is the way to go period!
We dont eat figures , what on the ground has improved even the interest rates in the banks dont correspond to the reduction in inflation. During Mwanawasa the exchange rate came down to K3100 what has it bee with Banda K4,600 to K5,200 well will debate on and on…weather its good for exports to devalue the currency or not. But bone of contention we want prices to go down drastically. Dont tell me about the reduction due to the fact that we may have subsidised the fuel in the other provinces. And on fuel i dont really think it has neted into a price reduction i think there more consumers in Lusaka than any other part of the Country. SAD we are paying our noses for everyone. .tell us the truth….useless govt..my foot!
these are good economic indicators and only a dimwit will not appreciate. thank God sata is not president bcos inflation could have gone skyrocketing. It takes a good manager like RB and his team to achieve this
The commodities u use to measure inflation rate figures we dont eat and use.Kapenta yes, 4 times a week,meat is 2 expensive,we buy pakata not a full bag.Chibwabwa and kalembula we eat daily.the reduction in inflation is not because you are working hard its because we are not buying the commodities u use 2 measure inflation hence traders are dropin the prices.Y boast about single digit when my zesco bill is killing me.Whats the point in measuring figures when there no subsequent changes to everything else, its like everything is fixed,the only way prices are going is up.
all crap and bull shit from MMD..
What does that mean in real terms for the common man!!!!!!
11, it means the cost of living is more stable, which is good for everybody including the common man. If the rate of inflation rises the common man has to fetch much more money for living than if it reduces. If you like PF’s simple language, it is the real “more money in your pockets”
#1 and #3 MWATAYAMVO and GOODMAN –
Lower inflation does not mean lower prices. Lower inflation only means that commodity prices take longer to change in the market, so that allows you to plan and budget for longer period because of stability in prices. HOWEVER, I get the essence of your criticism. Lower inflation…BUT WHAT ABOUT POVERTY??
i think i dont understand inflation any more 8-|