Zambia’s inflation rate on an annual basis is still low. Former President Rupiah Banda’s political advisor Dr Francis Chigunta has advised the Patriotic Front government (PF) to strengthen the monetary policy implementation to avoid the increasing levels of inflation.
In an interview with the Lusaka star, Dr Chigunta said the inflation rate in Zambia on an annual basis is still low and around this time of the year it is normal to experience an increase in inflation.
“This is the rain season and certain foodstuffs are in short supply, this causes demand to be high and thus creates some inflationary pressures,” He said.
Dr Chigunta said the increase in inflation is expected to go up until next harvest.
He added that it is important to take note of the removal of subsidies on commodity prices which have also contributed to the slight increase in inflation.
“It is not surprising that the rate has gone up because there has been a general increase in the price level in the country,” he said.
Dr Chigunta has since advised the people of Zambia to learn to be prudent in financial management because nowadays it is difficult to spend money anyhow and it is very hard to come by.
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7 months ago