Zambia’s inflation rate has increased from 7.4 percent in June to 8.4 percent in July, the central statistics office has announced.
The increase of the country’s inflation rate has been attributed to the increases in food and non food prices.
Justin Katumbi, acting CSO Director says that between June 2010 and July 2010, the annual; inflation rates increased for food, beverages and tobacco, clothing and footwear, household, fuel and lighting, furniture and household goods, TRANSPORT and COMMUNICATION, and other goods and services.
Mr. Kalumbi has further revealed that the annual inflation rates reduced for medical care, recreation and education.
He says of the total 8.4 percent annual inflation in July 2010, food products in the consumer price index, accounted for 2.0 percentage points, while non- food products accounted for 6.4 percentage points.
He adds that a comparison of retail prices between June 2010 and July 2010 shows that the national average price of 25 kg bag of white roller meal reduced by 5.9 percent, from 40, 161 kwacha to 37, 809 kwacha.
Mr. Kalumbi says that the average price of a 20 liter tin of maize grain also reduced by 5.1 percent, from 19, 570 to 18, 567 Kwacha.
It has also been revealed that the national price of 1kg tomatoes increased by 3.3 percent, from 3, 493 to 3,607 Kwacha.
He also says that the national average price of 1kg dried kapenta increased by 6.0 percent, from 50,710 Kwacha to 53, 748 Kwacha.
QFM
Mwamona RB ka ?
Elyo Lwanya! I do not know where we are headed as a country! Certainly there is no hope for the ordinary Zambian!
i await to hear from Senior citizen or his partner in sin Mr Capitalist on this one because every time there’s a drop on the rate they fill this site with some of the most ridiculous assumptions and analyses.
Its why these tuma figures are so misleading as indicators of development. They tell a story of how money has moved in trade but do not indicate how well-off, or otherwise, the poor of Zambia are. This ka much touted figure has been going up and down in the short time while poverty levels going one solid way – upwards.
Where is Doc Musokotwane?
I recently visited Zambia and it is sad that this are more expensive than in the US where the cost of production is way higher than in Zed e.g higher wages, long distances to transport food items. It was $6.50 for a fast food meal that costs about $5.99 in the US. Kaya!!
#5, That is why sometimes I think of settling here in India! Though some cities and items are now becoming expensive because of the increasing quality of living but on average prices here are way cheaper than in Zed! Example using internet for an hour, you will pay(Rs 15) that is 1500 kwacha but in zed you pay 10 000 kwacha! Food stuffs and transport also are quite affordable! If you are moving by metro a distance of lets say Chelstone-Town equivalent, you only pay (Rs 20) i.e. 2000 kwacha! Zed is quite expensive for nothing, kaleza!
Inflation is still in the single digits and therefore containable. The inflation target from govt is 8%.
Yes bro achimwene so that is an Indian flag ? Have been wondering probably you should think of changing your name to achimwenye ha ha ha,anyway just kidding.You have a point bro the cost of living in Zed is indeed high ,was just chatting with my girlfriend on facebook,and guess what ? She just sent me a message that she was charged about 20 pin for just that one hour duration.Zambia has indeed gone to the do.g`s.
its even more than what they are cheating us..it shud be around 15.5 %…
Zambians are always quick to resort to racial and tribal attacks. It’s no wonder development is stifled by this ignorant way of thinking. Mr. Capitalist has point and all you can think of is dishing out racial remarks. Shame!
As for the inflation rate, 8.4% is still better than the best KK, FTJ or LPM ever achieved.
The cost of living is high mainly because government is delivering on its promises to the rural people that voted for them. Therefore, there is a cost to delivering on promises and someone has to pay for it. Unfortunately the urban PF supporters are the ones who have to pay for uplifting the lives of the rural majority.
Well done RB!
BTW the flag is Canadian and not Indian!
Watonya insoka amabele @8, you have made my day.
My focaste tells me in a months time, inflation rate will climb to double figures-watch this space.
BUMPER INFLATION HARVEST,good govt policies!