Zambia’s annual inflation rate for the month of September 2019 has risen to 10.5 percent from the 9.3 percent in August the same year.
Central Statistical Office(CSO) Interim Statistician General Mulenga Musepa has attributed the increase to food items price movements.
At a monthly bulletin briefing held in Lusaka Mr. Musepa has disclosed that from the 10.5 percent inflation rate, food and non alcoholic beverages, accounted for 6.6 percentage points.
Mr. Musepa stated that non-food items accounted for 3.9 percentage points out of which transport contributed the highest of 1.3 percentage points.
He says transport was followed by clothing and footwear, and housing, water, electricity, gas and other fuels that contributed 0.7 percentage points each.
The Interim Statistician General has also disclosed that Zambia’s trade deficit decreased by 42.5 percent from K786.2 million in July 2019 to K451.9 million in August 2019, meaning the Country imported more than it exported in nominal terms.
Welcome home, Mr President.
While you were away, Zesco increased the price of electricity by 200% in the morning and reduced it by 200% later in the afternoon leaving only 75%.
Minister Kampyongo told us that he wasted “only” K65,000 and not K80,000 in a police operation in Kafue to stop your friend from emulating (or is it imitating) you in your good works of donating mealie meal. We understand that you directed austerity measures to your cabinet before you left to join President Trump and other world leaders at the UN General Assembly.
We await your comments preferably at a press conference in the comfort of your State House and not standing outstride your plane at the airport, seeing that you are very tired from a long journey.
If the headline was Bowman and Kambwili exchange blows then you will have over 100 comments but people just are not interested in the real issues that affect them. How can we develop when even so called educated people cant tackle the real issues but rather get more interested in dirty politics. We are spending too much on things not helping the economy, we are too vulnerable to the price of fuel, our reserves have dwindled, we do not support the informal sector as a driving economic force, we need efficient service delivery to combat corruption, we need to stop buying Luxury SUVs for the 5000 plus govt officers who fail to deliver!
NOT MAKING SENSE:
The Interim Statistician General has also disclosed that Zambia’s trade deficit decreased by 42.5 percent from K786.2 million in July 2019 to K451.9 million in August 2019, meaning the Country imported more than it exported in nominal terms.
Due to PANAMA thieves.
Here in London me and my white wife are enjoying an increase in our interest on savings. We are making a good amount of money just by money sitting in our accounts. Please zambian continue to vote pf..you deserve everything that comes with it
Alexander Chikwanda found a healthy economy and he single-handedly turned a frugal economy into a spendthrift economy and successive finance ministers havent had it easy.With rising energy costs,interest rates and projected low annual growth rate, getting out of double digit inflation driven by costs as opposed to demand may pose a challenge in the short and medium term.Let us see what the 2020 budget has to offer.
The economy can never be run down by one single person my dear. What’s happening in Zambia is as a result of every Zambian. we are not as aggressive in fighting poverty as we should.
most of our failures are as a result of constantly looking for food and never succeeding in finding enough. PaxRomana was archived and civilisation spread because people had enough food so they had spare time to philosophise or think and pleasurise. It’s a shame in this era to be looking to government or donors to feed our families.
Ministers of Finance are there to offer or give policy guidance or direction.Investors are risk averse,worse in a spendthrift economy.
Meanwhile you have a Drunk in State House wasting taxpayers resources gallivanting all the way to the U.N. to address an empty hall, as there was no one is interested in sitting down and listening to a Corrupt, drug dealer loving goon addressing them.
At home you have an illiterate P3n1s Head Home minister wasting meagre taxpayers resources to block people trying to alleviate the hunger & suffering caused by the very Jona Chakolwa, & (CHIMP)yongo’s visionless excesses.
THESE GOONS WILL BE MADE TO ANSWER SOON.
A lesson from Zimbabwe in the 1990s:
Former World Bank (Rothschild through James Wolfensohn) chief economist Joseph Stiglitz about his own World Bank:
“The protestors “will say the IMF is arrogant. They’ll say the IMF doesn’t really listen to the developing countries it is supposed to help. They’ll say the IMF is secretive and insulated from democratic accountability. They’ll say the IMF’s economic ‘remedies’ often make things worse—turning slowdowns into recessions and recessions into depressions. And they’ll have a point.””
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Inflation has been more than 20% for years . It is has been understated because of fraudulent actions by P F f-o-o-l-s to window dress almost every thing.