The country’s annual inflation rate for October 2017 has decreased to 6.4% from 6.6% recorded in September 2017.
Central Statistical Office r Director of Census and Statistics John Kalumbi has told a media briefing that this means that on average, prices increased by 6.4% between October 2016 and October 2017.
He says the movement of consumer prices indices show a steady increasing trend in the prices of commodities during the period of October 2016 to October 2017.
Mr Kalumbi, however, states that annual inflation rates over the same period have shown a decreasing pattern from 12.5% in October 2016 to 6.4% in October 2017.
He says the downward movement in the annual inflation rate was mainly attributed to price movements in both food and non-food items.
Mr Kalumbi further states that the annual food inflation rate for October 2017 was recorded at 4.9% compared to 5.0% recorded in September 2017, representing a decrease of 0.1 percentage points
And Mr Kalumbi says Zambia recorded a trade deficit of K2,055.6 million kwacha in the month of September 2017 from a trade deficit of over K400 million recorded in august 2017.
He says the trade deficit means that the country imported more in September 2017 than it exported in nominal terms.
Mr Kalumbi is probably the only one who seems to be experiencing decrease in inflation rate.
It’s either this man is magician or does not live in Zambia.
Which commodities do you measure.
I for one saw a increase when I visited the filling station. Any normal economy will see pries shoot up when fuel is increased but for Mr Kalumbi it’s dunana reverse lol these cadres.
This is great news and ECL Jonthan Chaima Lungu should be the only candidate in 2021. He should stand against a dried fish so that we can prove the KK Vs Dog ideal to see whether it had any substance in 1991.
John Kalumbi lives in a parallel universe. For him, this are okay. The government pays for his fuel, his children’s school fees, his house and has a fridge in his office which supplies drinks for his house. So of course he will not feel the cost of living.
Yes inflation rate is very low in state house kaili they now have dollar.
Atleast RB would allow the Central Statistics office (CSO) to release some credible information. Common sense is all you need to tell that the information being given here is the opposite of the truth. Is this how cheap this country has become?
Ever since Edgar Lungu came into power. Have you noticed;
1. CSO is falsifying inflation rates to show as though lungu is working when even the hard core cadre in the compound is feeling the pinch.
2. ECZ also is failing sime addition, up to now registered vs actual votes don’t tally.check what esau lied at mulungushi and ECZ website if it’s up now.
3. ACC also can’t seem to find a singlr corrupt person for 4 years, so of Zambia is corruption free let’s disbanf ACC to save money.
4. Has lungu paid taxes on his 19 million.
These are false reports by Central Statistical Office, when commodities increased we saw the inflation rate raising too, now how if the inflation rate has dropped why haven’t we seen reduction in the price of essential commodities?
PF-Foo-ls experts at fraud.
and the dollar is 10.118 today friday.. welcome to reality Zambia, where is 2020 vision with his prediction of 5 by xmas now.the reality of debt is about to hit us, ask Zimbabwe the consequences
Dramatic increase in imports devaluation of the kwacha by 8% for thst period yet inflation decreases.
This man should be in a travelling circus…..as a magician….figures presented only to get IMF bailout.
Pipo the first think IMFvdoes isvask a government to rein in spending and pay off debt by increasing tax collection.
Does this ring a bell with what minister mutati is doing…. yet the president, lusambo say we dont need them, thev IMF, then why is mutati pursuing their requirements.. IMF doesnt ask a country to borrow the country asks the IMF which is a fund under the UN of which we are a member nation and that us why we can borrow. If not interested in loan from IMF thennwhy side talks at last World Bank conference
This is rubbish, how do you issue a report for October on 27th How does his monthly calendar run? Why not wait until next month then analyse the month in full. Not sure if these people holding such offices are qualified or they just want to make pronouncements to impress politicians.
One day, the truth will come out. These inflation rates are fake.The reality on the ground is different. Somebody must be manipulating figures!