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Saturday, June 6, 2020

Inflation continues on it’s downward trend as it drops from 20.2% to 19.6%

Economy Inflation continues on it's downward trend as it drops from 20.2% to...

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The annual inflation rate for the month of August has decreased to 19.6 percent from 20.2 percent recorded in July.

Central Statistical Office director John Kalumbi has attributed the decrease in the annual rate of inflation to decrease in the prices of goods.

Mr. Kalumbi says the decrease is also attributed to the strength gained by the Kwacha in the past months.

He notes that if the current trends continue, it is possible that a single digit inflation rate can be recorded by December this year.

And Mr. Kalumbi says the annual food inflation rate for August reduced to 24.1 compared to 24.8 recorded in July.

The decrease in food inflation was mainly attributed to a decline in the prices of rice, cassava meal, vegetables, frozen fish and dried kapenta among others.

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  1. Until the prime lending rates which are in excess of 33% come down, this amounts to nothing. To me the cost of borrowing that’s the true measure of inflation.

  2. Things are beginning to look good. All the times strive to better your nation, don’t be bitter and insult for no justifiable reason.

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