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Alba Iulia
Thursday, August 6, 2020

Zambia’s inflation rate continues on the upward movement to 22.9%

Economy Zambia's inflation rate continues on the upward movement to 22.9%

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Zambia’s annual rate of inflation as measured by all Items Consumer Price Index (CPI) has increase by 1.1% from the 21.8% recorded in January this year to 22.9% recorded this month.

This means that on overage, prices increased by 22.9% between February 2015 and February 2016.
Central Statistical Office (CSO) Director John Kalumbi has attributed this increase in inflation rate to both food and non food items.

Mr. Kalumbi has told a media briefing held in Lusaka today that the CSO projects that the Country’s annual inflation rate will continue to slightly increase until somewhere around October this year.

He has also disclosed to journalists that the monthly inflation rate for February 2016 was recorded at 1.2% compared to 1.3% recorded in January 2016.

Mr. Kalumbi explains that this means that on overage, prices increased at a slower rate of 1.2% between January 2016 and February 2016 on a monthly-on month basis.

Meanwhile Zambia recorded a trade deficit in January 2016 valued at K172.6 million representing a 76.7 % decrease in trade deficit from the K739.5 million recorded in December 2015.

This means that the Country imported more in January 2016 than it exported in nominal terms.

17 COMMENTS

  1. Uko
    Kambwili will say it is global.Is inflation also on the rise in responsible regimes like Botswana,Namibia and Mozambique?

    • Yes, the buffun Kambwili will say this is global… Meanwhile, inflation in DRC is at 2.08% and yet they export more copper than Zambia.

  2. Comment:political tycoons ar monovrering with importation even if goods. ar produced locally for. us. to detest the current regime.noo. no abash to this we ar still behind pf no matter whatever…..abash ka HH hadouf hitrah

  3. Its high time Zambians work up.You are saying it is Global just check this in s Africa Un employment levels are 25%,but in Zambia 75% of people are not employed.Which global inflation now at 21% alo lwanya it will be Zimbabwe re loaded.Give Lungu a rest back to Chawama.

  4. Mwense dont lie. DRC inflation is not 2 % . most African countries including botswana has seen their inflation go up

    • @Punani Jackson: Do your research before you argue, Inflation in the Democratic Republic of Congo is among the lowest in world… I work with these figures everyday, I know what i’m talking about.

      Inflation in the Democratic Republic of Congo has been remarkably low and stable over the last 3 years. This is mainly ascribed to a stable exchange rate and the fact that the monetisation of fiscal deficits has become less prevalent.

  5. It doesn’t matter whether its globo or not. What matters is what are we doing about it. The CSO projections are based on the activities we are putting (or not putting) in place to change the scenario.
    Kadansa is busy praising his militia thugs instead of directing policy towards curbing this negative trend. Just listened to ZNBC news & the whole 35 minutes had nothing on the economy. What a waste!

    • Kadansa thinks managing the economy is easy – just steal money from your clients!

      But now he has 13 million clients to steal from he is not worried – just go on holiday in Eastern province and drink more Jamesoni. Leave the Panga Family to sort out the mess!

  6. What more evidence do people need to accept that PF has destroyed our economy? If Zambians don’t show PF the door on 11 August 2016, they should only have themselves to blame! PF is incompetent!

  7. Botswana 2.7 %
    Angola 15.4 %
    Mozambique 12.1 %
    Tanzania 6.5 %
    Congo DRC 1.2 %
    Malawi 23.5 %
    Namibia 2.4 %
    Ghana 19.6 %
    Nigeria 9.6 %
    Kenya 7.6 %

Comments are closed.

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