The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
A sharp slump in the kwacha that’s placing upward pressure on inflation may prompt monetary policymakers to raise interest rates for the first time in more than a year when they meet in early 2023.
Consumer prices rose an annual 9.9% this month, compared with 9.8% in November, interim Statistician-General Mulenga Musepa told reporters in the capital, Lusaka.
That’s the highest level since September and brings the average for 2022 to 11.1% — below the central bank’s forecast of 11.3%. The cost of transport outpaced other price increases, Musepa said.