LUSAKA, 30 May 2024 — Zambia's Consumer Price Index (CPI) has experienced a notable increase in May 2024, reaching 1.4% compared to the previous month's 1.0%. The CPI, which measures the average change over time in the prices paid by consumers for a market basket of goods and services, highlights a month-over-month growth indicating rising inflationary pressures within the Zambian economy.
The previous CPI indicator in April 2024, which was recorded at 1.0%, had already suggested an upward trend from the month before. This latest data, updated on 30 May 2024, confirms the trend, reflecting a continued increase in the cost of living for Zambians.
Economists and policymakers will likely keep a close watch on this uptrend as it may affect monetary policy decisions and economic planning. The rise in CPI could be attributed to factors such as increased demand, supply chain constraints, or fluctuations in essential commodity prices. Further analysis will be needed to understand the underlying drivers of this inflationary movement and to forecast the potential economic implications moving forward.
