Zambia’s inflation rate for the month of November has dropped from 9.0 percent in October to 8.7 percent representing a drop of 0.3 percentage points.
Briefing the press in Lusaka today, Central Statistical Office (CSO) Director of Census and Statistics Efreda Chulu attributed the decline to the relatively lower food prices recorded during the month.
Ms. Chulu explained that of the total 8.7 percent annual inflation recorded in the month of November, food products accounted for 2.5 percentage points while non-food products accounted for a total of 6.2 percentage points.
She said price decreases were recorded in fish, Kapenta, fresh vegetables, milk products, eggs and fresh fruits.
Ms. Chulu however said increases were observed in the prices of maize meal, maize grain, other cereals, meat, oils and fats.
SO WHAT!!!
In agreement with one above!!!!Any one out there ever ate inflation? LET US HAVE IT IN LAY PERSONS LANGUAGE eg sorry mate this month your kwacha will not buy you a lamp of nshima not even half or vise visa.
Leave the jargon with the technocrats—- or in my jargon — sissy cut the crap tell it like its is.
My parents in the village will be more interested to know if they have a good price for their produce or not. GET THE SMALL PICTURE ? EC?
THe Director is telling us that the general price level is holding steady around 9%. So the prices of most goods & services have changed only by that much. Commerce since barter trade has become sophisticated. There’s possibly no simpler way to put this.
Compared to November 2006, the average price levels have increased by 8.7 percent. Compared to October 2006, the price levels increased by 9.0 percent. You can therefore say that the general rate of increase in price levels between October and November has reduced by 0.3 percentage points. Still unclear?