Economy

Inflation Rate Drops For First Time In 2020

For the first time in 2020, Zambia’s annual rate of inflation has registered a drop of 0.7 per cent, according to data released by the Zambia Statistics Agency (ZAMSTAT).

ZAMSTAT Interim Statistician general Mulenga Musepa said the year-on-year inflation as measured by the all items Consumer Price Index for the month of June 2020 decreased to 15.9 per cent, down from 16.6 per cent recorded in May 2020, meaning that on average, prices of goods and services increased by 15.9 percentage between June 2019 and June 2020.

Mr Musepa said the decrease in the annual inflation was attributed to price decreases in food items.

The year to date inflation was recorded at 9.3 per cent in June 2020, higher than that of the corresponding period in 2019 of 5.3 per cent, meaning that the average prices of goods and services increased at a faster rate in 2020 compared to the same period in 2019, he said at a briefing in Lusaka today.

And the year-on-year food inflation rate for June 2020 was recorded at 16.3 per cent compared to 17.5 per cent in May 2020, indicating a decrease of 1.2 percentage points.

“This development was mainly attributed to reductions in prices of food items such as cereals (Breakfast mealie meal, Roller meal, Maize grain) and Fish like Dried Bream, Dried Kapenta(Chisense), Dried Kapenta(Mpulungu), Buka buka,” Mr Musepa said.

10 Comments

  1. Bm

    Mmmmmm…….we are still feeling it.

  2. Asoza

    I just wonder what the relevance of the inflation index really is? There seems to be a disconnect with prices of essentials as one does not see any effect in prices. Everything has gone up. I just wonder where CSO collects its data or 8s it a case of poor sampling?

  3. Muzo Meetah

    Hope it will drop more than this.

  4. BOSTON CHILUFYA

    This is rubbish, where do you get all it from,2019 expensive chicken was costing k40 to k45 as of today it’s going at k65 to k70. If you have nothing to post please don’t remind us of who we are feeling this economy.

    • Kapobe Kennedy jr

      Be specific were are you buying chicken at that exorbitant prices?I disagree with you my friend try to be factual,because I bought a chicken yesterday at K45 and for that matter a big chicken

      • Kelly

        Awe mudala chicken at 45 it’s not possible unless nga ya ma dilu

      • wizzy

        Awe mudala,lets be honest,none like dat can happen.In which part of zambia do u live in?i cant imagine a chicken at k45 at dis moments of high infration.

  5. Benjamin M Ngush

    Hope it will drop more than this,,, because our currency was becoming invaluable that a bag of money can only buy foodstuffs that’s so…

  6. Real umulimi

    #kapobe kennedy jr. You are out of touch with reality. Feed for broiler chicken has gone up and no one can sale a chicken at K45 even in a desperate situation, kano nga yakwiba bakalamba.

  7. Chambwe

    Mmmmm ,chickens even at chilonga mission we are buying at K60

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