Saturday, June 15, 2024

Zambia’s annual inflation for December drops to 16.4 percent from 19.3 percent

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Zambia’s annual inflation for December has decreased to 16.4 percent from 19.3 percent recorded last month.

Zambia Statistics Agency (ZAMSTATS) Interim Statistician-General Mulenga Musepa says the move means that the country’s prices of goods and services increased by an average of 16.4 percent between December 2020 and December 2021.

Mr. Musepa has attributed the slowdown in inflation to favorable price movements in both food and non-food items.

He has cited the foods that recorded price movements as cereals like mealie meal, Maize grain, Samp and imported Bread Flour.

Mr. Musepa adds that dry foods like fish and Kapenta, Kapenta Mpulungu, vegetables like Lumanda, Chinese cabbage, Pumpkin leaves, Cassava leaves, Okra and Mushrooms among others also recorded price movements.

Meanwhile, Mr. Musepa says Zambia’s Gross Domestic Product  (GDP) estimates for the third quarter of 2021 show that the economy grew  by 3.5 percent.

He says this represents a 6.5 percentage points increase from minus 3 percent recorded in the corresponding quarter of 2020.

Mr. Musepa attributes the growth to six key industries namely Information

and communication, and Construction which had the highest positive contributions to growth, financial & insurance, Public administration, Transportation and storage, Manufacturing and Wholesale and retail trade among others.

He says the GDP at the current prices is estimated at K113.3-million compared to K90.4 million recorded in the same quarter of 2020.

Mr. Musepa was speaking during the release of the ZAMSTATS monthly statistics for December and the last one for this year.

He also revealed that total trade for the period January to November 2021 was K331 billion compared to K215.6 billion for the same period last year representing a 53.6 percent increase.

17 COMMENTS

  1. “…Meanwhile, Mr. Musepa says Zambia’s Gross Domestic Product  (GDP) estimates for the third quarter of 2021 show that the economy grew  by 3.5 percent…..”

    The bally effect……….

    The sceptics will be crying for a 3rd term for bally in 10 years time………

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  2. For me nothing has changed. Actually I expected them to say the truth by saying it has gone higher cause prices of a number of things have gone up. For me a mere citizen it’s been felt like never before.

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  3. Iwe chinangwa cost of living was messed up by your own PF administration. As you can see, this competent UPND administration is working hard to bring that under control.

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  4. At least now we have people in govt who know what they are doing.
    You wont find the likes of Deja Vu on here asking his usual questions pretending not to be politically inclined unless if it was an article by his idol Sean Tembo.

    Anyway its seasonal holidays now here until the new year less LT the better….

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  5. KZ you are next mu selo, with that filling station of yours you shall account, Grand daddies you even stopped my via arrangement.

  6. #9  Nostradamus 
    December 30, 2021 At 7:51 pm

    “Why you Zambians don’t like being inside buildings? Market is empty, but sellers lineup outside.”

    Look at that building……..

    It is too small and not fit for purpose……….

    Looks like a fedral concrete structure……….

    In a hot country like zambia , a market should be basically a very large open air shed with simple tables……..

  7. Tsu zu stop being jealous over my hardwork. Even you can have what I own by simply working hard and not being a lazy fat a.s.s.z

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  8. Hey #5 Chibende that’s a very selfish look.You have blind spots,delusions and biases that won’t let you see….read the 2nd paragraph again and then think more clearly.

  9. The simple definition of inflation is more money chasing few goods. Whilst GDP is the aggregated total expenditure of every citizen and entity in a local economy. If we are to be honest with ourselves we will say people are spending more on fuel, meali meal, transport than before hence contradicts the drop in inflation. As for GDP it will increase ofcourse due to high cost of living and not because of product demand.

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