Zambia’s annual inflation rate is closing the year 2015 at 21.1 percent. This up by 1.6 percent in December from 19.5 percent recorded in November.
Central Statistical Office -CSO- Director John Kalumbi has attributed the increase to the recent upward adjustments in electricity tariffs by the power utility company ZESCO Limited.
Mr Kalumbi says the increase in food and non-food prices have also contributed to the rise in inflation.
He says annual inflation rate for December last year was 7.9 percent but notes that the recent depreciation of the Kwacha has had a major toll on the inflation rate.
Mr. Kalumbi has however revealed that the monthly inflation rate for December has been recorded at 2.1 percent a reduction from November’s five percent while October recorded the highest at 6.2 per cent.
And Kalumbi further notes that Lusaka had the highest provincial contribution of 6 percentage points to the overall annual inflation rate.
This means that the price movements in the province had the greatest influence to the overall annual rate of inflation.
And Mr Kalumbi said Zambia’s trade deficit in November significantly reduced by 52.6 percent from 2 585.3 million kwacha in October to 1 226.1 million Kwacha in November.
Meanwhile Mr. Kalumbi has revealed that the 2015 Living Conditions Monitoring Survey has revealed that Zambia’s population is estimated at 15.474 Million representing an increase of 18.5 percent from 13.064 million recorded in 2010. He said the figure is close to the projected figure in the Population and Demographic Projection report.
Mr. Kalumbi said the survey has revealed that rural areas have more people than urban areas as was the case in 2010. He has however, stated that urban areas recorded a 2.3 percentage points increase in population from 39.5 percent in 2010 to 41.8 percent in 2015.
CSO- Director John Kalumbi reminds of Kalumbi Banda story in primary 4. Thanks for the ‘close of year’ stats
Sunday Chanda or Amos Chanda where are you? We need you now more than ever to give us your solution to this problem. These are issues that matter most to Zambians
Viva HH
Its global!!! hahahahahahaha
if we complain about high costs, they say we are bitter. We are opposition etc.
PF members are well covered – they have contracts, they have jobs. They have everything!
Sometimes you don’t treasure your possession until you lose it. During the MMD reign, the middle class was blossoming. It was not by sheer coincidence, the foundation was laid by FTJ and Levy continued that same path with increased fiscal discipline. RB was a useless president, but he was lucky because the team he appointed was quite competent. EL is a good guy, but I doubt he has a capable team
Here we go again..Praying that it will not hit 50% by mid next year..
I personally hope Edgar wins in 2016.Zambians deserve to be taught a lesson.Honestly how can any normal person walk into a voting booth and vote for Sata.And there are still *****s who think he was a hero.Let Edgar win so that we see *****s dying of hunger and lack of medicines in loadshedded hospitals.
Hundreds in Scotland still have black and white TV
Comment: it is an impressive performance comparison of the last two months Oct and Nov . given all key players if they continue with positivity we are likely to achieve more economic stability and non traditional earnings will continue to surge and record more export as Chinese government offload their dollars and those holding onto the dollar will just wake up to a rude shock that there is too much dollars in circulation. I have confidence 2016 is good year for Zambia to do business despite being an election year because Zambia still continue to receive FDI due confident leadership of his excellent ecl and PF policies
Dream on
Sure let Lungu win so that people die of hunger, surely how on earth can people vote for these clueless bastards, lazy,empty tins and pure imbeciles to in govt? MMD even under the corrupt Banda was better because they had a plan, and left money in the coffers, this league of criminals masquerading humble Kaponya’s and misleading masses has brought the country to it’s knees inflation is going back to the dark ages of the UNIP era, Lungu and his bandits only know how to contract Loans. RB is a saint compared to the *****s in Govt today, Indeed let people die of hunger so they are taught a lesson that they ought to think before they vote for a confessed vision less drunkered. Zambians will cry and mourn whilst these stupid morons line their pockets with stolen money from govt tenders and…
Its sad that our leaders are busy debating on tribal issues while the economy is on free fall. Why can’t our leaders concentrate on fixing the economy instead of putting all the efforts debating who is tribalistic and who is not!
All the efforts put in by MMD to bring down inflation and stabilise the Kwacha are going down the drain. All we hear from our leaders is how they will win the 2016 tripatrite elections!
We may claim that our economy is bad due to global problems, but NOT all our problems are global, many of our problems can be solved by our leaders if they shift their attention to fixing the economy.
They have failed to run the economy and want to hide behind the tribal talk.PF I hate you.
Ifintu ni lungu, nafuti nafuti.
For all the people out there who were still wondering whether PF had failed or not, you now have your answer. PF has completely failed and they must go! Not long ago, Zambia had single digit inflation! PF through incompetence has moved it to 21.1%. In fact it is much higher than 21.1% given the increases in electricity tariffs and other items. This statistic must be embarrassing even to Forbes who claimed wrongly that things were OK in Zambia! Things are bad!
Failed Government led by a very useless and dangerous president
Not surprised about the inflationary rates, but not so sure that Zambia’s population has increased by 2.4 million in 5 years!
Haha,the economy focused MMD was booted out in favour of the politics focused PF and now Zambians are reaping the rewards of economic hardship,high inflation,investor flight and load shedding.
You made your bed voters,now lie in its hard uncomfortable mattress.
Comment:
Signs of the last days. its only wen God kingdom rules the earth the inflation rate will drastically drop to 0.0%
Hello Zimbabwe Dollar, Kwacha to join you soon!
Incompetent *****s. PF has managed to destroy our economy.
This is CRIMINAL. These clowns belong in JAIL, not in Government.