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TRADE EXPERTS ATTRIBUTE DECREASE IN INFLATION TO BUMPER HARVEST

Written by on June 30, 2020

An institution that is specialised in policy,research and advocacy  and networking on issues of trade and development has welcomed the decrease in the country’s inflation rate for the first time this year.

Consumer Unity Trust  Society Cuts has noted that the drop remains marginal compared to the increased inflation seen over the past few months.

CUTS  Executive Director Chenai Mukumba says from the beginning  of the year consumers have been burdened  by the increase in the cost of living that has left low income consumers more vulnerable.

And speaking in a separate interview, North Western Chamber of Commerce and Industry  president Mukumbi Kafuta  also said  the decrease in Inflation is attributed to the bumper harvest and that there is need to devise other ways of producing other high value products that will see a further reduction of inflation .

Mr Kafuta says relying on maize production alone is not a sustainable means of  bringing down inflation but that there is a need to open up other  sectors including formalizing  mass exportation of maize.

Zambia has posted a decrease in inflation hovering around 15.9% which most experts have  attributed to the bumper harvest.

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