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The Zambia Consumer Association (ZACA) says the continued downward trend in the inflation rate is not reflected in the prices of goods, which are still ruling high
The Zambia Consumer Association (ZACA) says the continued downward trend in the inflation rate is not reflected in the prices of goods, which are still ruling high.
According to government sources, overall annual inflation for May 2022 decreased to 10.2% from 11.5% recorded in April 2022. The slowdown was mainly attributed to price movements in both food and non-food items. Annual food inflation for May 2022 was recorded at 12.3% compared to 14.1% recorded in April 2022. The annual non-food inflation for May 2022 was recorded at 7.5% from 8.2% in April 2022.
Association Executive Secretary Juba Sakala said the inflation rate has continued to decline. But consumers are not experiencing the effects because prices of goods and services have continued to increase rapidly.
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Sakala explained that when inflation was around 21%, a 2ltr container of cooking oil was selling for K70, and now that the inflation rate is at 10.2%, the same liter of cooking oil is costing K107. The decline in the inflation rate should trickle down to consumers in order to make a difference.
