Economist Explains Escalating Commodity Prices
By Lomphande Phiri
Economist Chibamba Kanyama says the escalating commodity prices can significantly be attributed to the exchange rate and not sabotage by individuals as suggested by President Edgar Lungu recently.
In an interview with phoenix business news, Mr Kanyama explains that it is impossible for the business community to sabotage the pricing of essential commodities in a depressed economy.
Mr Kanyama explains that the pricing of commodities is a structural issue and that the current economic situation was anticipated even before the covid-19 crisis.
He is of the view that in a highly competitive market such as Zambia, there is a lot that has to be done to restore credibility into the market system.
Recently President Edgar Lungu said the escalating commodity prices are unjustified and could be caused by sabotage by some individuals.
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