• Cost of living for a family of five May 2023 in Lusaka stood at K9, 077.93.
• This is in comparison to the recorded figure of K9, 112.60 in April 2023.
• This signifies a decrease of K34.67.

Jesuit Centre for Theological Reflection (JCTR) has disclosed that the cost of living for a family of five in Lusaka has dropped by to K9, 077.93 in May, compared to K9, 112.60 in April 2023.
JCTR Social & Economic Development Programme Officer, Aquila Ng’onga, attributed the reduction in the basic needs and nutrition basket to price decreases in food items such as 3.6 litres of cooking oil, 14 kilograms other fruits and 16 kilograms bananas.
Mr. Ng’onga however noted that some non-food items in the basket rose such as two 90 kilograms bags of charcoal.
“The cost of living for a family of five as measured by the Jesuit Centre for Theological Reflection (JCTR) Basic Needs and Nutrition Basket (BNNB) for the month of May 2023 in Lusaka stood at K9, 077.93. In comparison to the recorded figure of K9, 112.60 in April 2023, this signifies a decrease of K34.67.”
“The basket’s downward movement can be attributed to price decreases in food items such as 3.6 litres of cooking oil which dropped by K51.72 from K162.20 to K110.48, 14 kg other fruits which dropped by K47.43 and 16 kg bananas which dropped by K30.02 from K257.52 to K227.50,” Mr. Ng’onga stated.
He further observed that during the month under review, the Zambian Kwacha continued to exhibit a trend of depreciation against major currencies such as the dollar, which was also noticed in the previous month.
“While the cost of living has shown a minimal drop for the month under review, JCTR notes that the cost of living still remains high and far beyond reach for many citizens. Delays with debt restructuring have simply increased the economy’s unpredictability by creating pressure on the currency and slowing prospects to increase investor confidence.”
“As the cost of living rises, low-income individuals and families may struggle to meet their basic needs, such as housing, food, and healthcare. Income inequality may widen, exacerbating social disparities and potentially leading to social unrest or increased reliance on public assistance programs, which can further strain government resources. Therefore, we wish to reemphasize the urgency of expediting the debt restructuring process by creditors,” he added.