TRADE EXPERTS ATTRIBUTE DECREASE IN INFLATION TO BUMPER HARVEST
Written by newsroom 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.