Fluctuating Fuel Prices and Exchange Rate Variations Drive High Cost of Living, says JCTR

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The Jesuit Centre for Theological Reflection (JCTR) has attributed the high cost of living to fuel pump price fluctuations and exchange rate variations.

The cost of living for a family of five, for the month of July 2023 in Lusaka, stood at K9, 301.18 in comparison to the recorded figure of K9, 239.45 in June 2023, signifying an increase of K61.73.

The average cost of living across all towns monitored stood at K6, 752.91, reflecting an increase of K236.64 in comparison to June 2023.

In a statement, JCTR said the increasing cost of living is a global crisis that has not spared Zambia.

“The high cost of living, undeniably a global crisis, has continued to be driven by factors such as seasonality, fuel pump price fluctuations and exchange rate variations. These movements have continued to cause a steady increase in the price of both food and non-food items. This scenario makes it difficult for households to attain fundamental basic necessities, as incomes and livelihoods rarely adapt in sync with fluctuations in prices,” JCTR stated.

“The staple food, mealie meal, which has seen sustained higher prices than usual this year, is one commodity worth highlighting. For a family of five as estimated by JCTR, two 25kg bags of “roller” mealie meal is required per month for consumption. The July BNNB data revealed a worrying trend, with the cost of two bags of roller mealie meal exceeding the K360 mark, thereby eroding the purchasing power of households and making it increasingly challenging for households to manage their daily expenses,” the statement added.

JCTR said the government must quickly put in place strategies to reduce the cost of farming inputs aimed at bolstering maize production and other key cereals, in order to incentivize local farmers and to enhance domestic supply.

20 COMMENTS

  1. Please understand why ERB is doing what it is doing by talking to them. Infrequent petroleum products price reviews led to build-up of a huge debt by government to the oil marketing companies. That debt needed financing by borrowing on the part of government and was one reason interest rates were under an upward pressure.

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  2. Where is that man who told us that he had a formular to reduce the price of fuel to K10/litre? He even said at 14 hours on the day of swearing the Kwacha will appreciate. But the exact opposite is what is happening . Was he just lying?He just took us for granted . Its bad . Iyeee some people have no shame!!.

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  3. Us the CADRES are patiently waiting for the money from Africa Development bank and European Union as promised by our SG Imenda.

  4. All UPND cadres should exercise patience. Money is coming from European Union . It shall be shared equally. Do not despair

    • Kambwili is a tribal fat bloke who knows nothing except theft. Yes theft of government resources, Just like the Lungus

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  5. Thabo Kawana has a different version. The new cost of living is just an imaginary figure by people who want to tannish the name of our hard working president. Mrs Nalumango also adds; prices must go up for them to come down.

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  6. You think a government that has failed to implement simple gay rights can manage an economy? Remember I told you that since 1964 there is only one common factor in all the failing governments we have had, they have all been led by heterosexuals. I have said that this country will only prosper when gay rights are respected. You can cry,pray to your homophobic God or dance but you won’t prosper until you respect homosexuality

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    • But when Kambwili said it was global you laughed at him despite the fact that neighboring countries were smuggling fuel from Zambia.

  7. I thought the cost of living was high during PF and Lungu was the problem according to the Supreme leader Ayatollah Hakainde Hichilema….double standards….it looks like HH is giving brown envelopes to any organization or individual who can say positive things about him….like buying references…..when something is its because of Lungu and PF and when something is good its because HH is working…ba Pompwe imwe

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