Wednesday, August 14, 2024

 COST OF LIVING INCREASING 


By Daily News Reporter

The Basic Needs and Nutrition Basket (BNNB) in Lusaka has increased from K9,555.53 in January to K10,575.86 in July, marking an overall rise of K1,020.33. This reflects a clear upward trend in the cost of living. Similar trends were observed in other cities such as Solwezi and Ndola, where the BNNB saw significant increments, indicating a nationwide escalation in the cost of basic needs.

February witnessed a sharp rise, with Lusaka’s BNNB increasing to K10, 307.01 from K9, 555.53 in January. This increase of K751.48 highlights the volatility in prices. The highest monthly increase occurred between March and April, where most cities experienced an uptick in their BNNB figures. In Lusaka, the BNNB increased by K1, 048.87 within this period.

Solwezi showed substantial fluctuations, with the BNNB rising from K9, 176.26 in January to K10, 042.59 in July. Ndola also followed this pattern, with its BNNB increasing from K7, 892.78 in January to K9, 311.09 in July. On the lower end, cities like Mazabuka and Mpika displayed smaller increments but nonetheless followed the general trend of increasing costs.

The continued depreciation of the Zambian Kwacha, coupled with rising fuel costs and poor rainfall patterns, have exacerbated the situation. The increase in BNNB reflects not only the inflationary pressures but also the seasonal availability of certain food items, particularly as Zambia approached the dry season. The rising cost of staple foods like mealie meal, kapenta, and vegetables has had a detrimental effect on the living conditions of average and poor households, leading to food insecurity concerns.

And Jesuit Centre for Theological Reflection (JCTR) has urged the Government that they is need for targeted government interventions to stabilize and reduce the cost of essential goods. And also to improve food production and sustainability through diversification and better farming practices.

 The government need to clearly outline their strategy for addressing the high cost of living, with a particular focus on middle-income households burdened by tax obligations and rising expenses. This strategy should encompass both income-based and cost-based approaches.

And the implementation of employment creation programs to boost income levels, as well as measures to control and reduce the cost of essential goods and services.

“To improve food production and availability in the next farming season, we recommend intensifying the sensitization and financial support for the cultivation of a diverse range of crops beyond maize as well as intensifying winter food production initiatives. By implementing sustainable food systems, we can enhance food security, nutrition, and environmental care,” JCTR

 

 

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