The latest JCTR report has indicated that there were some notable reductions in prices of foodstuffs and non food items in the month under review.
“JCTR Basic Needs and Nutrition Basket (BNNB) for the month of June 2020 stood at K7, 060.80. A total reduction of K134.8 from the May 2020 basket which stood at K7, 195.60. Further reductions on the food items were noted in the price of other fruits that moved from K321.67 to K251.63, tomato reduced from K58.97 to K38.38, bananas moved from K203.03 to K189.78 and the price of cooking oil reduced from K109.45 to K99.12,” JCTR Acting Social and Economic Development (SED) Manager Muchimba Siamachoka stated in a statement.
“From the non-food but essential items, the price of charcoal reduced from K332.00 to K322.40 for two 90kg bags from the preceding month. On the other hand, increases in the basket have been recorded in the prices of cassava flour that rose sharply to K211.75 from K70.97 in May a difference of K140.78 and soya pieces that moved from K69.95 to K90.55.”
She stated that of great concern to the JCTR was the already constrained fiscal position of government that has been further affected by a decline in economic activities.
“It has been noted that 2020 revenue collection will be lowered by K20.8 billion; from approximately K72 billion to K51.2 billion. Debt obligations are expected to rise to K8.7 billion due to the devaluation of the kwacha against the dollar. This will limit government’s ability to respond to the needs of the most vulnerable in society, most of whom cannot afford basic necessities,” Siamachoka stated.