Annual inflation rate drops

Filed under: Breaking News,Business |

Zambia has recorded a reduction in its annual inflation rate from 7.5 percent in December 2016 to 7 percent in January 2017.

Central Statistical Office Director of Census and Statistics John Kalumbi has attributed the decline in the inflation rate to price changes of both food and non-food items.

Mr. Kalumbi however says the reduction in the annual rate of inflation does NOT mean that prices of goods and services have reduced.

He explains that the prices of goods and services have increased at a reduced rate over the period under review.

Mr. Kalumbi was speaking when he delivered the CSO Monthly bulletin in Lusaka – ZNBC.

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2 Responses to Annual inflation rate drops

  1. No! The Inflation has continued to increase at a steady pace. It is only the denominator in the formular that still continues to increase on account of the sharp increases exprienced last year. This downward trend should cease after March. It should be expected that stead increases will ensue thereafter.

    Mr Kalumbi should also be informing the Nation as to the Monthly inflation, so that People have insight of what ia currently happening on the ground, rather than relying on the Historical Annual statistic.

    Mr Kalumbi should strive o tell the Nation the truth. He should nothan hide in historical figures whose ‘favourable’ results will soon expire.

    Maano
    January 26, 2017 at 4:29 pm
    Reply

  2. Political statistics are also called ‘alternative facts’ or LIES. It is a shame that the so-called professionals have been recruited to tell lies. Ofcourse we know that one can tell lies by manipulating numbers and coming up with a favourable result
    In economics, inflation descibes a general rise in prices. It is clear that there has been a general rise in prices in Zambia over the past 6 months. Perhaps Mr. John Kaumbi resides in an alternative Zambia.
    By the way it is Central Statistics Office and not Central ‘Statistical’ Office!

    Paul N.
    January 27, 2017 at 8:26 am
    Reply

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