The Zambia Consumer Association-ZACA says the continued downward trend in the inflation rate means nothing to consumers as it has not translated into positive changes in the pricing of goods.
Overall annual inflation for May 2022 decreased to 10.2% from 11.5% recorded in April 2022 and 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 and 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.
Speaking in an interview with the Zambian Business Times-ZBT, 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 litre of cooking oil is costing K107 therefore the decline means nothing.
Sakala noted that the decline in the inflation rate should trickle down to consumers in order to make a difference adding that people will only be able to celebrate that the rate is heading towards a single digit when there is stability in prices.
“When we here such changes, we get down to speak to consumers and they said there is no change. The changes do not yield any difference because there are no changes in consumer pricing. It is the opposite of what is happening on the ground. The decline needs to trickle down to consumers so that what is happening is known so as to able to appreciate the happenings unlike what is happening”, he said.
