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The Basic Needs Basket for a family of 5 living in Lusaka has reduced by K38

The Basic Needs Basket for a family of five living in Lusaka for the month of October has reduced by K38 to about K5, 317 from K5, 356 recorded in September.

The October BNB did not keep pace with the national inflation because the price reduction recorded in selected items outweighed the price increases in other items.

Significant decreases were noted in prices of Kapenta which by K18 from K188 to K170 per kilogram, Beans by K5 from K34 to K29 per kilogram and Tea bags by K4 from K84 in September to K80 in October per kilogram.

Dry bream fish however increased by K5 from K131 in September to K136 in October per kg.

Despite the cost of living reduction in the month of October, it still remains high and above incomes of many Zambians who continue to struggle to access basic needs of life, according to Chanda Paul Chileshe.

Mr. Chileshe the JCTR Social and Economic Development Programme Officer has recommended that government should look to promote alternatives such as gas for industrial use which can have an effect in lowering fuel dependability and reducing the impact of a fuel hike on locally manufactured commodities.

He said government may further need to review its taxation policy on crude oil so as to mitigate any possible adverse effects on the economy especially if global oil prices continue to rise.

Mr. Chileshe said increased fuel prices had an adverse impact on transport costs and prices of basic foods like mealie meal and bread.

He emphasised that the effect of fuel hikes on inflation in Zambia is thus a reality that is likely to increase the incidence of vulnerability and inequality.

source: lusakatimes