August Basic Needs Basket reduces by K26

The Basic Needs and Nutrition Basket for the month of August 2020 as measured by the Jesuit Centre for Theological Reflection (JCTR) has reduced to K7, 178, for a family of five compared to K7, 204 in July 2020.
JCTR Acting Programs Manager Muchimba Siamachoka told Money FM News that this represents a reduction of K26.2 from the month of July and reductions in the basket have been noted in prices of various food items which include other fruits such as oranges and apples which moved from K283 to K244, cassava flour from K135 to K100 for 6Kg, roller Mealie meal from K175 to K 161 for two 25kg bags among others.
Ms. Siamachoka stated that increases have also been recorded in the prices of Kapenta that rose sharply from K188 to K301, and vegetables that increased from K442 to K493 for 40Kg.
“From the non-food but essential items the price of charcoal increased from K266.67 to K272.00 for two 90kg bags from the preceding month. Other items specifically washing soap, Vaseline and tissue recorded minimal increases of between K1 and K6,” Ms. Siamachoka stated.
Meanwhile, Ms. Siamachoka urged government to take stock of the uncertain impact of the COVID-19 crisis regarding macroeconomic factors such as the fragile state of economy characterised by negative growth rates of about 4%, as the country prepares the 2021 National Budget.
She observed that the weakening of the local currency and the high annual inflation, despite having reduced to 15.5% for the month of August, still remains an undesirable macroeconomic indicator as a double digit figure.
Ms. Siamachoka noted that the basket is high for poorest and vulnerable households who have low incomes to afford basic necessities.
“As attention shifts to the 2021 national budget, JCTR urges government to continue prioritising social protection programmes, especially social cash transfer, as a way of addressing the rising cost of living in the poor and vulnerable households. The basket is high given that most commodities cannot be accessed by poorest and vulnerable households who have low incomes to afford basic necessities. From the August basket particular attention is placed on the sharp increase in the price of kapenta, a nutritious food item which is a source of protein, omega 3 and omega 6 fatty acids due to reduced supply.”
“This entails that consumers will have to spend more to access this food item. This becomes a challenge at household level due to constrained income levels that have been threatened by the pandemic. Vegetables are another case in point which during the dry season tend to increase in cost due to scarcity. In spite of this, JCTR is pleased that roller Mealie meal, cassava, pounded groundnuts and fruits have continued to record a price-decline,” she stated.
She further called on households to deliberately incorporate roller Mealie meal, pounded groundnuts and vegetables in their daily diets in order to improve nutritional outcomes especially during this time of the pandemic.

More From Author

World Bank urges Zambia to capture other benefits beyond mining sector

• World Bank is committed to supporting African countries to translate Africa’s mineral wealth into…

Read More

Kwacha gains should benefit consumers – BuyZed

• This is to ensure that consumers begin to enjoy what is produced locally.• Manufactures…

Read More

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

IZB profit up 18.74% to K604.33 million

IZB has posted a K604.33 million Net Profit after tax for the year ended 31st…

Read More

Indo Zambia Bank declares K50 million dividend cheque

This is part of the K125 million dividend, the highest ever for 2023 financial year.…

Read More

Economist expects currency to hit K15 between April, December, 2024

  The Kwacha has been experiencing an unusual decline since introduction of the Export Proceeds…

Read More