Friday, April 19, 2024

Zambia’s annual inflation rate for January increases to 21.5%

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Zambia’s annual inflate rate for January has increased to 21.5 percent up from 19.2 percent recorded in December 2020. Zambia Statistics Agency Interim Statistician-General Mulenga Musepa attributes the increase in inflation to a rise in food prices.

Mr. Musepa said that January saw food inflation rise 25.6 percent from December’s 20.2 percent. Among the food items whose prices rose is bread and cereals, fish, dried foods, and vegetables among others.

Mr. Musepa said that Lusaka was the highest contributor to this month’s rise in inflation at 6.1 percentage points, while North Western Province recorded the lowest contribution at 0.7 percentage points. Zambia’s annual inflation for January last year was at 12.5 percent.

Zambia’s international trade for last year closed at 241.8 billion kwacha compared to 183.2 billion Kwacha in 2019. Releasing the monthly bulletin in Lusaka today, Mr. Musepa said this represents a 32 percent rise in international trade.

He also revealed that December saw Zambia recording a 6.3-billion-Kwacha trade surplus, a decrease from November’s 7.2 billion Kwacha.

20 COMMENTS

  1. Where is KZ , ???

    Your thoughts pleas , and don’t blame covid , because even before covid , the trajectory was up, up and up

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  2. Maybe they buy goods from their party communist/socialist coupon carrying shops, otherwise the economic impact muma komboni iliko trick.

  3. Lungu found inflation at 8%. This is a working President. He has increase everything. Inflation, dollar, unemployment, national debt, money in your pockets. This is what we call growth.

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  4. What can we say? The person in charge thinks by moving all over the show then he’s working hard. That’s gallivanting! Hard work is the ability to stop shady deals like 42 million dollar wheelbarrows, honeybee deals, etc. It’s about making important decisions in public interest. Those crooked indians will run away from you and start doing the same deals with another corrupt politician. It’s the same public you despise today that’ll be there for you. Now you see? Some things shouldn’t be that bad. They’re bad because of the greed of few individuals

  5. Low inflation numbers do not put food on the table. Those numbers have more meaning to those higher up the chain. Our party is more concerned with uplifting those in poverty out of it. What will low inflation do for them ?

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  6. Inflation rate is one of the indicators meant to help decision making. Its as good as measuring high blood pressure. It does not matter whether u are rich or poor BP reading cannot be ignored and may save your life.

  7. KZ you are one thick kunt. What percentage of the population have your party have uplifted people from poverty.

    Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time.

    PF has destroyed this country. Economy is in ruins. Another 5 years of PF will be treading like Zimbabwe.

    Mugabe chased away all those white farmers and look at the consequences. Not forgetting mugabe got hold of the top 3/5 farms. Today’s it’s in ruins as poor grace has no expertise in running a commercial farm.

    Same with lungu an ex convict ruining this country as…

  8. @kz
    What upliftng kz when food staffs have gone up in pricing. Us in the lower poverty line as u say it hv been heavily affected…..imagn 5 l cooking oil above k180??

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  9. Our inflation is currently caused by shortage of forex.
    The immediate solution is to force the Mines to SELL to the Bank of Zambia a stipulated fraction of their earnings , say 25%, at a pre -determined price of say 14 Kwacha per USD.
    The Mines are currently on a high because of the high metal prices.
    The proposed measures will have the effect of supporting the Kwacha which may eventually stabilise around 16 Kwacha per USD.
    GOVERNMENT should control the ridiculous number of shopping malls!!

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  10. All growing economies will go through inflation at one stage or another. In our Zambian context, it is obviously due to increased spending but it can be controlled. The government ought to show some confidence and work together with the best economic minds that the country has to offer to find workable methods to fight against inflation. Not just waiting for the IMF and World Bank to tell them what to do about it.

  11. Nine Chale and Kaizar Zulu really have no grasp of economic fundamentals. Better to stay quiet than show your ignorance to all the world.

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  12. British inflation picked up by a little more than expected in October as the COVID-19 pandemic continued to affect the cost of goods, with clothing and food prices rising during the month, official data showed on Wednesday. That is a report taken last year. So it is ok for inflation to increase in your adopted countries due to covid and yet it becomes unimaginable for it to be the case here?

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