Financial Expert Patrick Mwape says the cost of food and basic needs in Zambia will continue to increase for as long as the government does not resolve stability in fuel pump prices.
The latest Jesuit Centre For Theological Reflection (JCTR) basic needs and nutrition basket for the month of February 2023 in Lusaka increased by K230.75 from K9,047.31 in January to K9,278.06 for a family of 5 living in Lusaka.
In an interview with Phoenix News, Mr Mwape says the JCTR basic needs and nutrition basket may increase further for as long as the cost of fuel continues to remain unstable in the long run.
He states that despite the government removing fuel subsidies, there is still a need for a stop gap measure that would mitigate the rising cost of living, which can only be addressed by stability in the cost of fuel.
Mr Mwape adds that fuel is the engine of every economy and as such, is a huge determinant to the cost of living.