JCTR QUESTIONS CONTRASTING TRENDS BETWEEN INFLATION AND COST OF LIVING
Written by Mafken FM Newsroom on 4 April 2022
The Jesuit Center for Theological Reflection has demanded for an explanation from the authorities on the contrasting trends between the inflation which has been declining and the cost of living which is on the upward trajectory.
The Basic Needs and nutrition Basket which monitors the cost of living at the household level for Lusaka has continued to rise since January 2022 in contrast to the recent trend in the national inflation which has been on the decline.
JCTR Executive Director Father Alex Muyebe notes that since January 2022, the cost of living in Zambia has been on the upward trend corresponding to the rise in commodity prices but said this scenario is not surprising given that the rise in fuel pump prices generally do have a spiral effect on the commodity prices.
Father Muyebe says the fuel pump price adjustment by almost K10 between December 2021 and April 2022 and the resultant adjustment in the commodity prices are inevitably going to hit hard on the majority of the Zambian people whose incomes are already very low.
He said that the rising cost of living is just setting on course, and is likely going to push more households into absolute poverty.
