By NATION REPORTER
THE Zambia Consumer Association (ZACA) has projected a further significant increase in the cost of living in 2024 and is urging Zambians to brace for hasher economic conditions.
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ZACA executive Secretary Juba Sakala says the projection comes as a result of the unstable economic fundamentals that failed to stabilize in 2023, causing concerns for the financial well-being of Zambian citizens.
Mr Sakala said the failure to stabilize economic fundamentals in 2023 has had a direct impact on the cost of living in Zambia.
He said factors such as inflation, unemployment, and currency devaluation had contributed to the rise in prices of essential goods and services, making it increasingly difficult for individuals and families to meet their basic needs.
He said their projection of a further increase in the cost of living next year was raising concerns about the financial burden that Zambians would have to face next year.
Mr Sakala said with the cost of food, housing, healthcare, and tertiary education already high, the projected rise in prices of goods and services would put additional strain on households and exacerbate the existing economic miseries..
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