ZAMBIA’S INFLATION
Dr Steve Hanke, an economist and professor of applied economics at the Johns Hopkins University in Baltimore, Maryland, says according to his measurement, Zambia’s rate of inflation stands at 47 per cent per year, four times higher than reflected by Bank of Zambia.
He tweeted;
“Today I accurately measure Zambia ‘s inflation rate is at a PUNISHING 47%/yr — that’s nearly 4xhigher than the official rate.”
Bank of Zambia Gov.Dr.Denny Kalyalya
= MONETARY MISMANAGEMENT.”
The Statistician General needs to make public the list of items that constitute the inflation basket. We would argue that energy and petroleum should be included in the basket rather than excluding them on the basis that they are captured in other products and services. Also, the weightings assigned to each item in the inflation basket must be made public, and then we can make an independent assessment on the accuracy of the inflation because it looks like it’s being manipulated.
Fred M’membe
President of the Socialist Party