. Nkhoma
By ETAMBUYU SANG’ANDU –
AN economic analyst, Noel Nkhoma, has said the continued drop in the monthly inflation rate is likely to trigger low commodity prices and improved standards of living.
Mr Nkhoma said in an interview that the falling rate of inflation meant that prices would be rising at a slower rate.
He said the rate was giving a positive indicator of low purchase power for investors across Zambia.
Mr Nkhoma said this was a positive sign that the measures being put in place by the Bank of Zambia to stabilise the economy were responding positively.
According to the Central Statistical Office (CSO) report, in the last two months, the rate of inflation has been reducing from 21.8 per cent in April to 21.3 per cent in May.
Mr Nkhoma said the continued dropping of the inflation rate was a sign that there would be stability in the prices of goods and services.
There was a guarantee that consumers would not be exploited with high prices of products on the Zambian market.
“This is a relief to a Zambian consumer as it is promising that there shall be stability of prices on the market,” Mr Nkhoma said.
People’s standard of living will be enhanced and the cost of living will be reduced.
