Friday, March 29, 2024

Zambia’s Inflation rate continues its upward Trend

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The annual inflation rate in Zambia has climbed to 12.5 percent for the Month of January 2020 from the previous 11.7 percent in the prior month. This is the highest inflation rate in almost three years, with month on month the consumer prices index rising to 1.8 percent from 1.6 percent in December 2019.

Speaking at a press briefing in Lusaka today, Zambia Statistics Agency Interim Statistician General Mulenga Musepa the 0. 2 percent increase in the monthly inflation rate is mainly attributed to the general price increases of non-food items such as electricity and petroleum products.

He explained that of the 1.8 percent monthly inflation rate, 0.6 percentage accounted for food while the 1.2 percentage accounted for non-food items.

Mr Musepa also disclosed that year on year inflation rate has also increased owing to price increase in both and non-food items between January 2019 and January 2020.

And Zambia recorded a trade surplus of over 400 Million Kwacha in December from over 100 Million Kwacha in November, 2019.

Mr Musepa attributed the trade surplus recorded to the country’s higher exports than imports during the period.

20 COMMENTS

  1. Look at that graph if it was under five graph it will be fine now inflation graph wow. Where is lungu it’s embarrassing to be a president of a country with inflation rising like that. That graph correlates a lot with what’s on the ground l don’t know if lungu is shown such data otherwise he was going to call for intervention

  2. This rise in inflation is not strange, the man has been failing from day one. All economic indicators are down. The few truthful people remaining like Chilubanama are trying to advise that lets find another candidate for 2021 elections for PF, but for saying the truth the guy is being victimized. Look at the inflation figurers and of course the real inflation figures are far beyond these given here

  3. Part and parcel of living in one of the fastest growing middle income countries. You have ups and downs. Eventually the economy corrects itself. Nothing sinister. Kz

  4. KZ, is this the best advice you can give the President? It can’t be a surprise to have such economic indicators with an adviser like you. Tell the President the truth about what is happening on the ground.

  5. While everyone focuses on the inflation, they ignore the TRADE SURPLUS mentioned. Had it been a trade deficit, the donkeys would be in unison-“heee, haaaw, heee, haaaw….”

  6. I wish the trade surplus would also be given in dollar terms so that we compare with the previous months to take account of the exchange rate effects. Just my thought

  7. Higher export value could be that the amount in kwacha has been inflated by the rapid depreciation of our currency against the US$ and our imports are lower due to depressed activity in the economy caused by tightened liquidity and leading to less imports. But I could of course be wrong

  8. Lower Kwacha value ,higher inflation , mounting external debts ,economic growth slowing to just 2%…Bwana Lungu is really a specialist in impoverishing Zambia.

  9. This reflects the recent depreciation of the kwacha. A depreciating that has discouraged imports leading to a trade surplus and stemming further depreciation.

    Cost of living is too high for poor Zambians. Correction comes from sound policies, not what @KZ is trying to tell us. It starts with fiscal discipline….

    Wasting my time. PF have no idea what real austerity is. Later

  10. No wonder K1,000 is behaving like K100 now and K500 like K50.
    Similarly, K100 is behaving like K10 and K50 like K5!
    Meanwhile the citizens are preoccupied with Seer1 and Bill 10 instead of their dying economy!

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