GOVT PREDICTS SIGNIFICANT DROP IN COMMODITY PRICES BY END OF 2025

 Commerce, Trade and Industry Minister Chipoka Mulenga has expressed confidence that commodity prices will trend downwards significantly as the year comes to a close.

In an interview with Phoenix Business News, Mr. Mulenga has attributed the expected decline to significant improvements in key economic fundamentals that previously drove up the cost of doing business which are now getting lower and will trickle to commodities.

He has specifically cited the improved stability and strength of the kwacha, coupled with reduced logistical costs and inflation as positive economic factors.

The minister says the economic indicators have begun to create an obligation for businesses to reduce prices, because government has already achieved stability in critical areas and expects the private sector to adjust prices accordingly.

Mr. Mulenga has however expressed frustration that while businesses are quick to raise prices during a downturn, they have been hesitant to reduce prices despite nine months of economic stability.

He has urged the business community to fulfill its part by passing on the benefits of the stronger economic fundamentals to the consumers.