The Central Statistical office has announced that the country’s annual rate of inflation increased to 6.4 percent in August 2012 from 6.2 percent in July 2012.
The 0.2 percent increase in the inflation rate has been attributed to increases in food prices.
CSO director of Census and Statistics John Kalumbi said that this meant that on average, prices increased by 6.4 percent between August 2011 and August 2012.
Mr. Kalumbi told a media briefing that between July 2012 and August 2012, the annual rate of inflation increased for food and non-alcoholic beverages, furnishings, health and education among others, while the annual rate of inflation decreased for housing, water, electricity, gas and other fuels.
And Mr. Kalumbi further disclosed that the largest provincial contribution to the inflation was from the copperbelt province, contributing 1.7 percentage points while the least recorded was from Northern/Muchinga provinces jointly accounting for 0.1 percentage points.
Meanwhile, Mr. Kalumbi has announced that the Central Statistical Office in partnership with the Ministry of Labour will next month commence the collection of data for the labour force survey.
The labour force survey is a survey designed to measure the labour market and provide key indicators of the labour market such as employment, unemployment, underemployment and hours of work.
Mr. Kalumbi said that the survey also provides insight into a variety of issues relating to the labour market.
QFM
inflation is a rise in the general level of prices of goods and services in an economy over a period of time for those that are less educated like some of us
Thanks
lol… at least you know yourself… and even a 7th grader can define inflation Zambia has moved forward since some of you left, thank God!!!
Ooops I meant unlike some us *^
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Wow! More money in your pockets, less purchasing power.
An increase of 0.2 percentage points is not much and is expected in this volatile economic times, its nothing to worry about, we just have to ensure it remains a single digit figure by year end. No Government can manage to maintain a stable statitic inflation level throughout the year despite the fluid market forces!!!
@Mushota Your first comment was the correct one.
Agreed lol
And there it begins….. it shouldn’t really matter as we were told that ‘you cant eat inflation’ when it was going down during RB’s tenure.
Which type of electricity reduced? Zesco, CEC or what? I am still paying the same tarrif.
Revolution is the answer.
Mushota , your brain instinctively said the truth about yourself in the first statement.
In the “correction” Â you had to think as usual.
Actually a 0.2% increase in prices is nothing to worry about. We are not having run-away inflation, so chill. # 6, yes we could not eat inflation and a lot of lower bracket employed people are happy about the tax relief and the adjustment of the minimum wages. These 2 parameters are what have contributed to the slight increase in inflation. Keep on being shortsighted and you will be lost!
THIS HUGE INCREASE IN INFLATION IS A DISASTER TO THE THIS GOVERNMENT WHOSE POPULARITY IS ON SHARP DECREASE.
The inflationary increase by a 0.2, follows from usual intimidatory tactics perpetuated by the regime in Zambia and unleashed on the opposition more especially the UNPD. Such tactics are ampilified by economic speculators and they accumulate substancial gains in short terms. The govt. has a lesson to learn from this tendency which negatively affect the economy and has the potential of reversing gains which Zambia has attained thus far. Zambia should not emulate Zimbabwean tactics of dealing with its opposition. They never worked there, in fact that militancy attitude destroyed that country. Do not sacrifice Zambia for meaningless solidarity with Mugabe.
Intimidatory tactics send amazing shock waves across the markets creating negative sentments which filter through to pricing of essential commodities and devaluation of the national currency. The implications which follows from that e.g. on the surface one can argue that Zambia’s export become cheap and it is not as it seems to be, but completely opposite in that the state is forced to print more cash which is then circulated to meet the demand that arises as a result of the percentage rise in inflation. Zambians, especially the architect of the economy should refrain from intimidating the opposition e.g. UNPD (Mr. HH) the PF regime should adopt a professional attitude at all times.
Markets are very sensetive everywhere they do not have assuring shock absorbers which can protect them from outside certainities such as political intolerance pertuated by the PF regime on its opponents. Markets operate well in evironments which are free of political instablities and other political related problems. The PF regime should not lock out the opposition from creating conditions necessary for not destabalising the market.
Mushota In life the truth catches up with you. At least you have made me laugh with this “own goal” . If knowing the meaning of inflation is part of your definition of being educated then this says a lot about you.
Then what is the rate of return for banks in zambia?? there is no point in keeping money in the bank if inflation eats it way like this 6.4% yakulisha..on need at least a rate of return of 7% to get something which i doubt is the case, so if usunga ndalama mubank u will cry lol..find another place to invest your money..