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‘No mismatch between low inflation, cost of living’

FINANCE and National Planning Minister Situmbeko Musokotwane says there is no mismatch between the decreasing rate of inflation and effect on the cost of living.

Dr. Musokotwane said as the rate of inflation was decreasing, so was the cost of living because a reduction in inflation meant the pace at which commodity prices were rising was slower.

“When you had inflation at 24 percent one year ago, it meant that was the pace at which the cost of commodities was going up and now we are down to single digit, what does that mean? So it’s laughable for even some professor in South Africa to suggest the contrary, let him come here and engage us,” Dr. Musokotwane said.
He was speaking to journalist in Lusaka yesterday.
Dr. Musokotwane said overtime, citizens would begin to experience the benefits of the single-digit inflation rate.

Meanwhile, Dr. Musokotwane hinted at the country’s external debt creditors meeting this month for restructuring talks.

He said the success of the talks was the only determining factor in the country’s quest to acquire a US$1.4 billion deal with the International Monetary Fund (IMF).

“We have concluded everything with the IMF and once done, that will be it,” he said.
Dr. Musokotwane said the only assurance required by the creditors was equity in dismantling of the debt.

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