The Jesuit Center for Theological Reflection (JCTR) has projected that the cost of living for a family of five for the month of December increased by K277.
In a statement made available to Money FM, JCTR programmes Manager Chama Bowa Mundia says the increase in the basket is attributed to the rise in the prices of food and non-food items.
“Food items, however, accounted for 95 percent of the cost change,” she said.
“In the non-food but essential items section, charcoal recorded a price increase of K17 between November and December 2020.”
Mrs Mundia said the upward change in the basket could be associated to general increase in demand due to the festive season at the backdrop of reduced supply for some items as farmers continued planting activities as well as due to COVID- 19 effects.
“Additionally, the fish ban which is from December 2020 to February 2021 further pushed the price of kapenta up.”
She said JCTR in November recorded that the cost of living for a family of five stood at K7,126 while for December it recorded an increase by K277 which rose the cost to K7,404.
She added that there was an increase of 1.8 percent in the year on year inflation rate recorded by the Zambia statistical agency.
“Year on year inflation as measured for December also rose to 19.2 percent from 17.4 percent recorded in November 2020,” she added.
“Worse, the year was projected to close with an economic growth rate of minus 4.2 percent.”
She has since recommended Government to assess and prioritize programmes that will help better the lives of the poor in society.