Zambia Inflation Slows to 11-Month Low as Food Prices Ease
Zambia's annual inflation rate eased to an 11-month low in May as improved rains helped cool price rises of corn meal and vegetables.
Consumer prices rose 15.3% in May compared with 16.5% in April, Chief Statistician Chola Daka told reporters on Thursday in Lusaka, the capital.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Japan to Set Up Minister-Level Meeting to Address Rice Supplies
(Bloomberg) -- Japan will set up a minister-level meeting as early as this week to address the supply of rice, Prime Minister Shigeru Ishiba said in parliament on Monday, as the government seeks to stabilize the price of the nation's staple grain and quell public anger ahead of a summer election. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NYC Congestion Toll Brings In $216 Million in First Four Months The government released a further 300,000 metric tons of stockpiled rice last week in a bid to bring down prices, which have doubled in the past year. The move came as households struggle with inflation less than two months before an upper house election that could punish a minority government already on the back foot after an underwhelming performance in last year's general vote. 'With rice costing twice as much — even 2.5 times as much in some regions — as last year, it's very important to steady that and stabilize the market,' Agriculture Minister Shinjiro Koizumi said in the same parliamentary session on Monday. Retailers including Aeon Co Ltd. and Pan Pacific International Holdings Corp., the parent company of popular discount store Don Quijote, started selling the stockpiled rice over the weekend, according to statements from both companies. Aeon priced its 5 kilogram bag at just under ¥2,000 before tax, well below the ¥4,200 per bag average consumers are seeing at storefronts. The government auctioned off batches of stockpiled rice starting in February, but prices have continued to hit record highs. Koizumi announced last week that the most recent release would be sold at a fixed price instead of auctioned, and bypass the usual supply chain, which includes rice collection agencies and wholesalers. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
- Bloomberg
TDB Warns Losses on African Development Banks Set Dangerous Precedent
Forcing African development lenders to take losses in sovereign debt restructurings would set a dangerous precedent and increase the cost of financing on the continent, TDB Managing Director Admassu Tadesse cautioned. Zambia plans to impose losses on institutions including the Eastern and Southern African Trade and Development Bank, or TDB, and the African Export-Import Bank as it reworks $13.4 billion in loans spanning Chinese state-owned banks to bondholders. Finance Minister Situmbeko Musokotwane said last week the southern African nation must honor its agreement with other creditors, which includes subjecting TDB and Afreximbank loans to comparable treatment. Ghana has echoed this.
Bloomberg
2 hours ago
- Bloomberg
ECB Set for Last Easy Rate Cut as Trade Fuels Inflation Discord
The European Central Bank is about to lower interest rates for the final time before an increasingly complicated inflation outlook risks bringing internal divisions to the fore. As price risks recede, officials have cut seven times in the last year with little friction on the 26-strong Governing Council. An eighth move is expected Thursday, bringing the deposit rate to 2%.
