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By ZamChro Correspondent

People should reduce their expenditure during the upcoming festive season as excessive expenditure may affect the attainment of the targeted 10 per cent inflation rate, Bank of Zambia (BoZ) governor Dr Caleb Fundanga advised yesterday.

During the BoZ third quarter media briefing, Dr Fundanga said inflation pressures in the country were expected to come from beef products and increase from manufactured goods as a result of increase in electricity tariffs.

However, he said stable mealie-meal and vegetable prices coupled with serenity in the foreign exchange market was expected to mitigate the inflationary pressures.

“If we buy more sugar, more bread during the upcoming festive season, this is going to have an effect on inflation, so that is one thing we should be mindful about,” Dr Fundanga said.

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