Presenting the Central Statistical Office monthly bulletin in Lusaka today, -CSO- Director of Census and Statistics, John Kalumbi says the month on month inflation rate for May decreased by 0.3 percentage points.
Mr. Kalumbi added that , Food and Non-alcoholic beverages accounted for 0.0 percentage points, while non-food items accounted for 0.1 percentage points.
He also explained that of the total 6.5 percent annual inflation rate recorded in May,2017, food and Non-alcoholic beverages accounted for 3.2 percentage points, while non-food items accounted for a total of 3.3 percentage points.
As someone who had acca and cima let me tell you that most forest world countries find it very hard to keep inflation and borrowing rates at single figures.
This is another milestone and kpi ticked by this progressive regime.
Congratulations to this Government. A round of applause please
Thanks
BB2014,2016
On borrowed money
Too many people on here show too much ignorance even though they have PHD’s. Inflation rate is just the difference between CPI (consumer price index) this month and CPI last year same month. April 2017 CPI was 194.5 and April 2016 CPI was 182.6 and if you do the % change you get the 6.5%. Central statistics are just stabilizing the 2017 CPI without factoring in the spiral effect of increase in pump fuel (48%) and add to that the 75% increase in electricity tariffs. Use linear approximation from basic mathematics to factor in the increase in fuel (48%) and electricity tariffs (75%) and you will project a higher April 2017 CPI than what they are reporting. You can’t tell me the increase in fuel and eventual increase in electricity tariffs won’t increase the price of ‘fixed’ basket of…
we`ll see the effect of the electricity tariff increase will be felt next month. hold your fire for now.
Clap . . .clap. . .clap . . .c lap . . . clap . . . clap clap . . .clap . . clap . . (while standing)
@2.1 ELECTRICITY TARIFF WILL BRING SO MANY POSITIVES. THE MOST IMPORTANT ONE IS SENSE OF RESPONSIBILITY TO HOUSEHOLDERS AS WELL AS BUSINESSES IN THE WAY THEY USE POWER. IN ZAMBIA IT IS MORE THAN COMMON TO WASTE FOOD AS WELL AS POWER. MOST FOOD STUFF IN ZAMBIA END UP IN RUBBISH BINS OR PA CISHALA. ELECTRICITY IS SWITCHED ON IN EVERY ROOM EVEN IF NO ONE IS USING THAT ROOM. STOVES ARE LEFT ON THROUGHOUT THE DAY AND NIGHT IN MOST HOUSE HOLDS. THIS IS EVEN A DANGER TO LIFE. GEYSERS (BOILERS HERE) ARE LEFT ON 365 DAYS OF THE YEAR. I THINK GUARDIANS WILL NOT BE ALLOWING SUCH CARELESSNESS. IT’S HIGH TIME ZAMBIA SWITCHED ON TO BOILERS (GEYSERS) THAT TURN ON ONLY WHEN USING A HOT TAP AS IT IS IN MOST COUNTRIES.
increase the price of ‘fixed’ basket of goods. They are giving you artificial inflation so that you can get excited like Mushota!
@Sauct Jones what about the increase in fuel that was implemented last year in October? That on itself should have a big impact!
@Elopajnr
you are totally confused because you are just looking at two items in a basket full of goodies-of which some have gone down and others have stabilized. Have you considered that the lending rates and statutory reserve ratios have gone down which make the cost of doing business go down.
Les just cap for these guys they re working
These are fake figures. Zambias inflation dropped from 18% to 8% without any economic fundamentals changing on the ground. Where on earth? Now you have to be very mad and beyond redemption to believe this. I will remain non partisan
Our economists are supposed to now advise SMEs on how to benefit from this wonderful turn in national fortunes. Ignore the naysayers.
These figures are just that figures, figures that do not reflect what’s actually on the ground, unrealistic and do not take any economic conditions into consideration. It’s not accurate to measure performance indicators using inflation rates. The economic hardships we continue to face should say something and we can pick it up from there
BA PETER YOU WRONG. Electricity increase is a danger to our environment Kariba dam depends on rainfall. Rainfall depends on forest. electricity increase will promote deforestation where by a percentage of Zambians will be using charcoal. this will reduce amount of rainfall in our country and Kariba dam will be affected. then how Zesco is going to produce electricity. because today cost of electricity is going beyond the price of charcoal.
FP-Fools continue deluding yourselves with cooked numbers.