9.5 C
Alba Iulia
Thursday, August 6, 2020

Zambia’s July inflation drops to 6.6 % from 6.8%

Economy Zambia's July inflation drops to 6.6 % from 6.8%

Shopping in Lusaka
Shopping in Lusaka
The annual inflation rate for the month of July, 2017 has decreased to 6.6 percent from 6.8 percent in June 2017.

This means that on average, prices increased by 6.6 percent between July 2016 and July 2017.

Central Statistical Office Director, John Kalumbi explained during the monthly bulletin presentation that the movement of consumer price indices (CPI) show a steadily increasing trend in the prices of commodities during the period of July 2016 to July 2017.

Mr. Kalumbi however,says the annual inflation rates over the same period have shown a decreasing pattern from 22.2 percent in July 2016 to 6.6 percent in July 2017.

He states that of the total 6.6% annual inflation rate recorded in July 2017, food and non-alcoholic beverages accounted for 2.9 percentage points, while non-food items accounted for a total of 3.7 percentage points.

Mr. Kalumbi says Lusaka Province had the highest provincial contribution of 1.9 percentage points to the overall annual inflation rate of 6.6 percent, implying that the price movements in Lusaka province had the greatest influence on the overall annual rate of inflation.

He adds that Western province had the lowest contribution of 0.2 percentage points.

And Zambia recorded a trade deficit valued at K335.2 million in June 2017 from K333.8 million recorded in May 2017.

This represents a 0.4 percent increase in the trade deficit. This means that the country imported more in June 2017 that it exported in nominal terms.

12 COMMENTS

  1. Keep it up indeed, what haters forgot is that Zambia held general elections within the space of 2 years and this had a toil on our economy among other market forces.
    Do haters just choose not to know so that they mislead their supporters or they just don’t understand?
    Anyway the fall in inflation is inevitable. Once again well done.

  2. Prices are not moving because people are broke and can’t afford much.
    Infact demand for goods and services is dropping….only absolute essentials are affrodable.

    • Only in zambia where a drop in inflation means a corresponding drop in living standards of the people…

  3. But has the price of basic needs of life gone down you pf f.u.c.king I.d.i.ot s

  4. Inflation in Zambia stands at 20.70% which is consistent with higher borrowing rates of between 35 % to about 60% and the exchange rate which is about K8,875.46. That said, it is not possible for inflation to be at 6.6%.This is a manu-factured lie and PF-Foo-ls have been telling it consistently and the gu-llible people have
    come to believe it.

    • We believed it even when it rose to 22.5%. Why shouldn’t we believe it now. Kwacha also went to 15/$ and we believed it. We shouldn’t we believe it now that it’s trading at k8 to a $. Tell in your analysis the real value of Kwacha exchange rate. Cretin. You don’t oppose everything else you become a full.

  5. Hon Mutati statement on 25th july published in LT says that we had a trade SURPLUS of us$186.6 million on an increase of 15.4% increase of imports. Now the statistician says that we had a trade deficit in june. Can we rely on whose figures. Is the minister right or his chief officer in the office of statistics.
    The US$ is weakening across the world rather other currencies strengthening against the dollar. This is the Trump effect.
    HH oval head if you ask economists they cannot really give a TRUE value of a currency. The value of a currency is relative to local and international perceptions of the economic situation within that country
    Please buy a dictionary and find another world other than cretin

  6. @HH OVAL HEAD
    A country with high interest rates or high cost of borrowing always has high inflation and a weak currency. A country with a trade deficit always has a weak currency and high inflation because the inflation is caused by the weak exchange rate. All these facts do not support a rate of inflation of 6.6%. This is a pure manufactured lie which gullible people like you have swallowed the bait. Can you present evidence that supports this level of inflation? I do not see anything in the short term or long term that this government is doing or intends to do will improve the economic fundamentals.

Comments are closed.

- Advertisement -
Loading...
- Advertisement -

Latest News

Shock and Anger As Stage For Nkana’s Coronation Up In The Air

Shock and anger cloaked a dramatic end to proceedings on the closing day of the season at Arthur...

It’ll be very difficult to unseat PF because of the unprecedented development Countrywide-Antonio

The ruling Patriotic Front (PF) Deputy Media Director Antonio Mwanza says it will be very difficult to unseat his party because of the unprecedented...

Government to soon fix the over 145 Km Mutanda-Mwinilunga Road in North Western Province

President Lungu has responded to concerns about the poor state of Mutanda/Mwinilunga road. And government says plans to reconstruct damaged sections to motorable standard have...

I have now been Certified Covid-19 Negative-Lusambo

By Bowman Lusambo After weeks of anguish, sickness and pain, I am delighted to announce that I have now been certified Covid-19 negative. The...

Chamber of Mines should put the interest of the Zambia First-ZRA Chief

The Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda says the Chamber of mines should put the interest of the country first before issuing...

More Articles In This Category