{"id":20003,"date":"2022-04-06T20:15:05","date_gmt":"2022-04-06T20:15:05","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr"},"modified":"2022-04-06T20:22:09","modified_gmt":"2022-04-06T20:22:09","slug":"its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr","title":{"rendered":"It\u2019s yet to be seen if the Government\u2019s efforts to reduce the cost of living will work-JCTR"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>The Jesuit Centre for Theological Reflection (JCTR) has said that it is yet to be seen if the Government\u2019s efforts to reduce the cost of living will work amid the increase in fuel pump prices.<\/p>\n

JCTR Executive Director Fr. Alex Muyebe, S.J. said in a statement that the cost of living in Zambia was rising in contrast to the recent trend in national inflation which has been on the decline.<\/p>\n

Fr. Muyebe said JCTR is aware that the Government is citing delivery of Constituency Development Fund, rolling-out of social cash transfer programme, implementation of free education programme, payment of salary arrears for local government employees, recruitment of health and teachers as efforts to cushion Zambian households from the rising cost of living.<\/p>\n

He said the JCTR\u2019s Basic Needs and Nutrition Basket (BNNB) survey recently for Lusaka stood at K9, 049.25 for the month of January 2022, showing a K689.45 increase in comparison to December, 2021.<\/p>\n

\u201cSince January 2022 the cost of living in Zambia has been on the upward trend corresponding to the rise in commodity prices. This scenario is not surprising given that the rise in fuel pump prices generally does have a spiral effect on the commodity prices in Zambia. The fuel pump price adjustment by almost K10 between December 2021 and April 2022 and the resultant adjustment in the commodity prices is inevitably going to hit hard on the majority of the Zambian people whose incomes are already very low. According to a study report by Karl Pauw, Bernard Tembo and James Thurlow on \u201cCOVID-19 in Zambia: Impacts on Production, Poverty & Food Systems\u201d published on 6th April 2021, poverty rate in Zambia increased by 4.3 percent due to the COVID-19 pandemic,\u201d Fr. Muyebe stated.<\/p>\n

\u201cThe rising cost of living is just setting on course, and it looks likely that it is going to push more households into absolute poverty. In the midst of this, the Government has urged citizens to be extra resilient because it is aggressively working towards stabilizing and ultimately lowering fuel pump prices and improving the general economic welfare of Zambians.\u201d<\/p>\n

Fr. Muyebe added:\u201dIt is yet to be seen if what Government is pointing to as its key commitments such as delivery on Constituency Development Fund, rolling-out of social cash transfer programme, implementation of free education programme, payment of salary arrears for local government employees, recruitment of health and education workers will be enough to cushion Zambian households from the pangs of the rising cost of living when the fuel pump prices still remain very high in the short term. What does the Government say to a poor household in Chibolya compound which is not a beneficiary of any of the above listed programmes and yet it now has to pay more for food and other basic necessities?\u201d<\/p>\n

Fr. Muyebe observed that Zambia\u2019s recent inflation rate is not corresponding with the cost of living. \u201cThis signified an 8.24percent increase in the cost of living between December 2021 and January 2022. The BNNB for Lusaka has continued to rise since January 2022. This is in contrast to the recent trend in national inflation which has been on the decline. According to the Zambia Statistics Agency Zambia\u2019s inflation rate for March has declined to 13.1 percent from 14.2 percent recorded in February driven by the base effect, which compares inflation in the corresponding period of the previous year,\u201d he said.<\/p>\n

Fr. Muyebe emphasised:\u201dThe point that needs to be highlighted is that although these two indicators are intimately related, they are not synonymous. The explanation lies in the definition of inflation; \u201cinflation measures the rate of increase of general prices level\u201d. The opposite is deflation, \u201cthe general decline in prices for goods and services\u201d. Therefore, a decline in inflation rate does not mean that prices have necessarily reduced.\u201d<\/p>\n

\u201cAll it means is that the rate at which these prices are rising over the comparable period has reduced. We can only talk about reduction in prices if the inflation rate falls below zero (in this case it becomes deflation). Inflation presents the big picture. As the cost of goods and services rises, the buying power of the Kwacha falls. The inflation rate is often measured by the change in the Consumer Price Index (CPI), a monthly measure by the Zambia Statistics Agency that averages the cost of a basket of goods and services from areas around the country. It reports the result as a percentage rise or drop in CPI,\u201d Fr. Muyebe said.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. The Jesuit Centre for Theological Reflection (JCTR) has said that it is yet to be seen if the Government\u2019s efforts to reduce the cost of living will work amid the increase in fuel pump prices. JCTR Executive Director Fr. Alex Muyebe, S.J. said in a statement that the cost of living in […]<\/p>\n","protected":false},"author":84,"featured_media":20001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[234,235,233],"class_list":["post-20003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nIt\u2019s yet to be seen if the Government\u2019s efforts to reduce the cost of living will work-JCTR - Zambia<\/title>\n<meta name=\"description\" content=\"The Jesuit Centre for Theological Reflection (JCTR) has said that it is yet to be seen if the Government\u2019s efforts to re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s yet to be seen if the Government\u2019s efforts to reduce the cost of living will work-JCTR\" \/>\n<meta property=\"og:description\" content=\"The Jesuit Centre for Theological Reflection (JCTR) has said that it is yet to be seen if the Government\u2019s efforts to re ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-06T20:15:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-06T20:22:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/04\/img-624df654862b8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"565\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"It\u2019s yet to be seen if the Government\u2019s efforts to reduce the cost of living will work-JCTR\",\"datePublished\":\"2022-04-06T20:15:05+00:00\",\"dateModified\":\"2022-04-06T20:22:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\"},\"wordCount\":771,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/04\/img-624df654862b8.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/its-yet-to-be-seen-if-the-governments-efforts-to-reduce-the-cost-of-living-will-work-jctr\",\"name\":\"It\u2019s yet to be seen if the Government\u2019s efforts to reduce the cost of living will work-JCTR - 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