The Zambia Congress of Trade Unions (ZCTU) has said the historic annualised rate of inflation recorded during the month of June is a sticking point that President Rupiah Banda’s prudent economic efforts had exceeded the economic policy measures of the previous administrations.
ZCTU secretary general Roy Mwaba said in an interview in Lusaka yesterday that previous efforts had been consolidated to speed up economic growth coupled with high productivity but there was now evidence that the current Government was making the right decisions.
He said the combination of President Banda, Finance and National Planning Minister Situmbeko Musokotwane and Commerce Minister Felix Mutati had proved to be the best for Zambia.
Central Statistical Office director Effrida Chulu announced last week that Zambia has tapped a historic annualised rate of inflation at 7.8 per cent which was the lowest in three decades.
The drop in inflation was spurred by a decrease in prices of food such as mealie meal, fresh vegetables, and dried kapenta which helped push down Zambia’s annual inflation rate, to 7.8 per cent in June from 9.1 per cent in May.
Of the total 7.8 per cent annual inflation rate in June 2010, food products in the Consumer Price Index (CPI) accounted for 1.9 percentage points, while non-food products accounted for 5.9 percentage points.
The reduction in the annual rate of inflation as measured by the CPI was attributed to the downward spiral of prices for food items which include maize grain.
The only time the rate came down to about eight per cent was in 2006 when late President Levy Mwanawasa as in power.
Mr Mwaba said the Government now needs to work on measures that would ensure that sound economic figures trickle down the ordinary Zambians and the workers.
Mr Mwaba said the 15 per cent salary hike for public service workers was too low and it was important in future to consider a higher percentage to allow the workers benefit from the economic growth.
He said the 15 per cent salary rise was given just when the cost of fuel and electricity tariffs were increased which has left the workers with little benefit from their efforts.
Mr Mwaba said good economic decisions were historically very difficult to make but recent efforts had shown that the Government knows what was good for Zambia.
[ Times of Zambia ]
“Central Statistical Office director Effrida Chulu announced last week that Zambia has tapped a historic annualised rate of inflation at 7.8 per cent which was the lowest in three decades.”
From historic bumper grain harvest to historic annualized rate of inflation. This is good news and shows the fruits of a working govt.
Well done but how come there is now corresponding reduction prices of goods generally?
ZCTU leadership is a bunch of MMD cadres!!
This is the same Roy Mwaba who told the Luska Times back in June:
Ignore Zamtel sale critics — ZCTU
Low inflation at the expense of economic growth (GNP, not GDP) only benefits foreign corporations and producers in Zambia.
Local producers need a reduction in bank lending rates.
” Central Statistical Office director Effrida Chulu announced last week that Zambia has tapped a historic annualised rate of inflation at 7.8 per cent which was the lowest in three decades. ”
So look around and ask yourself, what has this low inflation done for the average citizen, the workers and farmers? Has it raised their standard of living?
Roy Mwaba is MMD cadre and is afraid to stand up for the workers because he is involved in some corrupt acts regarding his private school in lusaka. It is a fashion to praise the govt especially Rupiah Banda so that you go scot free. Who can a person as educated as Roy Mwaba more importantly representing workers say such a abornomal praise when teachers and other civil servants have not being paid for two months, they have no food to put on their tables or dispoable income? Surely the fear and blind support are a cancer to our society. The inflation can be 0.1% but as long as the poverty levels are high it is a drop in the ocean. The inflation indicators are misleading and does not reflect on the real picture. Roy go to Kalense where your brother lives
Mwaba, thisguy you are praising RB is guy who would rather pay for DStv than Zesco. The Zesco switche him of and he cant watch Dstv.
What people want is food,send children to college,have jobs to support their families ,hospitals with medecines noone to be sent to southafrica for treatment,good roads .etc etc not figures of inflation
Wow, the PF has brainwashed people into thinking inflation figures are just figures. At one time, Zimbabwe had an inflation rate of about 300%, I bet they also thought those were just figures that did not affect their lives right…[-(
Which Central Statistics Office is this? God help mother Zambia. Which cost of living has reduced when my people are still living on less than 1 dollar by day. Giving false financial figures will not help if people are stilling having three meals per day, dust roads left, right and center thus sending a lot of people to hospitals everyday. I always tell myself that MMD has lost forecast but are just holding to power which is a shame really.
Pipo dont eat figures. We are tired of development that exists on paper only. Copper is finishing but no benefits. Why are we the poorest country in Southern Africa with the worst dolla exchange rate, most expensive price of fuel, D/ministers now shooting innocent citizens etc? Development ya marabishi iyo!!