• The key drivers again is the base effect.
• We are expecting inflation to continue coming down in the coming month.
• Month on Month Inflation rate is likely to go up.

An Economist expects this Month’s Annual Inflation rate to be at 12.8 percent down from 13.1 percent recorded in March 2022.

Dr. Patrick Chileshe told Money FM News in an interview that the key drivers again is the base effect which are basically statistical in nature.

Dr. Chileshe further noted that what has been very significant to cool down inflation rate has been stability in the foreign exchange rate over time.

He however stated the Month on Month Inflation rate is likely to go up attributed to a direct effect of the recent pump prices of petroleum products.

“Our expectation of Inflation rate are that we are expecting inflation to continue coming down in the coming month and for this month we are expecting inflation to be at 12.8 percent down from 13.1 percent” recorded last Month of march 2022,” said Dr. Chileshe.

According to him, “however what we expect is that we are likely to have Month on Month Inflation going up which will be a direct effect of the recent adjustment in pump prices of Petroleum products which were recently effected.”

“But on the annual basis we expect it to actually go down,” Dr. Chileshe added.

Last Month Zambia Statistics Agency (ZAMSTATS) discloses that Annual inflation for March, 2022 had decreased to 13.1% from 14.2% recorded in February 2022, driven by the base effect.

Zamstats Interim Statistician General Mulenga Musepa further said the overall monthly inflation for March, 2022 was recorded at 0.8 percent, a decrease from 1.7 percent the previous month attributed to general price movements in both food and non-food items.