Africa-Press – Zambia. The Energy Regulation Board (ERB) has increased fuel pump prices by an average of K2.01 for petrol and diesel. The pump price for a litre of petrol has gone up by K1.80 or by 7.21% while a litre of diesel has gone up by K2.37 or by 9.24%.
The ERB has also increased prices for a litre of Kerosene, a commodity mainly used by the poor, by K2.51 or 13.8%. ERB Board Chairperson Renolds Bowa has attributed the adjustments to an unprecedented increase in the price of petroleum products on the international market.
Speaking at a briefing this evening Mr Bowa said the recorded increase in international oil prices was mainly attributed to a combination of factors among them the Russia – Ukraine War. Meanwhile, Zambia’s inflation rate has hit a single digit for the first time in almost three years.
Zambia Statistics Agency (ZAMSTATS) Acting Statistician General Mulenga Musepa has announced that June’s annual inflation rate has dropped to 9.7 percent from 10.2 percent recorded in May 2022.
Mr. Musepa said that prices of goods and services on average increased by 9.7 percent between June 2021 and June 2022. Mr. Musepa attributed the move to movements in prices of food items such as Cereals, Meat , chickens and vegetables.
Mr. Musepa further pointed to non food items such as clothes, vehicles and charcoal among others. Briefing the media yesterday morning Mr. Musepa also announced that Zambia’s trade levels between January and May this year dropped to K146-million from K148 million the same period last year.
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