By RUTH YAMBAYAMBA
THERE is no contradiction between the high cost of living and the low inflation rate that the country is facing, Finance and National Planning Minister Situmbeko Musokotwane has said.
Dr Musokotwane explained that the decrease in the inflation rate has allowed the cost of goods to slowly increase unlike when the inflation rate is higher.
He also explained that the cost of living is higher now due to the fact that the inflation rate was once at 24 percent last year.
Dr Musokotwane noted that the inflation in most parts of the world is rising but in Zambia the inflation is dropping.
He said that the increase in fuel prices is not entirely on the inflation rate as deals with a lot of goods and services that a typical consumer consumes.
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