Consumer Price Index (CPI) in Africa red metal hotspot, infinitesimally ebbed higher 0.1% to 10.8% for the month of November. This was according to a Zambia Statistics Agency bulletin released on 28 November in the capital Lusaka.
Amidst rising risks to inflation given a deepening energy crisis and drought security, Zambia’s inflation is in breach of the 8% upper bound of the central bank target band of 6-8% which was forecast to be breached for 2 years giving rising risks to growth.
The marginal increase in inflation was attributed to slight rise in food prices. However given the currency depreciation and rolling blackouts impacting the business ecosystem, inflation risks remain very elevated. Inflation is expected to end the year at between 12-15% should energy woes and currency risks not subside.
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