The annual inflation rate in Zambia climbed for the seventh straight month to 22.8% in March of 2021, its highest level since February of 2016. Main upward pressure came from prices of food & non-alcoholic beverages (27.8% vs 27.3% in February), of which meats, fruits, eggs, sugar and cooking oil. Meantime, non-food inflation also picked up (17% vs 16.2%), mainly attributed to costs of garments, household rentals, charcoal and gas. On a monthly basis, consumer prices increased 1.7%, slowing from a 2.5% rise in February due to general price moderation in food and non-food items. source: Central Statistical Office of Zambia

Inflation Rate in Zambia averaged 10.29 percent from 2005 until 2021, reaching an all time high of 22.90 percent in February of 2016 and a record low of 6 percent in December of 2011. This page provides the latest reported value for - Zambia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zambia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Inflation Rate in Zambia is expected to be 23.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Zambia to stand at 13.50 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 10.00 percent in 2022 and 9.50 percent in 2023, according to our econometric models.

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Zambia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
22.80 22.20 22.90 6.00 2005 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-12-31 08:50 AM Dec 19.2% 17.4% 16.7%
2021-01-28 08:10 AM Jan 21.5% 19.2% 19.7%
2021-02-25 08:30 AM Feb 22.2% 21.5% 23%
2021-03-25 08:30 AM Mar 22.8% 22.2% 23.4%
2021-04-30 08:15 AM Apr 22.8%
2021-05-28 08:20 AM May
2021-06-25 08:30 AM Jun
2021-07-30 08:30 AM Jul


News Stream
Zambia March Inflation Rate at Over 5-Year High
The annual inflation rate in Zambia climbed for the seventh straight month to 22.8% in March of 2021, its highest level since February of 2016. Main upward pressure came from prices of food & non-alcoholic beverages (27.8% vs 27.3% in February), of which meats, fruits, eggs, sugar and cooking oil. Meantime, non-food inflation also picked up (17% vs 16.2%), mainly attributed to costs of garments, household rentals, charcoal and gas. On a monthly basis, consumer prices increased 1.7%, slowing from a 2.5% rise in February due to general price moderation in food and non-food items.
2021-03-26
Zambia February Inflation Rate at Near 5-Year High
The annual inflation rate in Zambia soared for the sixth straight month to 22.2% in February of 2021, reaching its highest level since March of 2016. Food inflation was the highest since at least January of 2011 (27.3% vs 25.6% in January), driven by prices of cereals; meats; fish; fruits; vegetables fats & oils and milk and eggs. Meanwhile, non-food inflation slower further (16.2% vs 16.7%), of which housing & utilities (13.2% vs 14.6%) and transport (29.3% vs 38.6%). On a monthly basis, consumer prices were up 2.5%, slowing from a 3.7% rise in the previous month.
2021-02-28
Zambia January Inflation Rate at Near 5-Year High
The annual inflation rate in Zambia climbed for the fifth straight month to 21.5% in January of 2021, reaching its highest level since April of 2016. Food inflation hit an over four-year high of 25.6% in December, from 20.2% in the prior month, mainly driven by prices of bread and cereals; meats; fish; vegetables; fats & oils and eggs. Meanwhile, non-food inflation slowed (16.7% vs 18.1%) mainly attributed to the base effect in household appliances and gas (propane). On a monthly basis, consumer prices inched up 3.7%, the most since November of 2015, after increasing 3.2% in the previous month.
2021-01-31
Zambia December Inflation Rate Soars to Over 4-Year High
The annual inflation rate in Zambia quickened for the fourth straight month to 19.2% in December of 2020, reaching its highest level since August of 2016. Food inflation hit a four-year high of 20.2% in November, from 16.8% in the previous month, mainly driven by fish, meat and cooking-oil prices. On a monthly basis, consumer prices inched up 3.2%, the most since November of 2015, after increasing 2.2% in the previous month. Inflation has been persistently above the central bank's target band of 6-8% for almost a year and a half and may accelerate due to the continued depreciation of the kwacha which was aggravated by a recent default on its sovereign debt.
2020-12-31

Zambia Inflation Rate
In Zambia, the four main components of the consumer price index are: Food and Non-Alcoholic Beverages (54 percent of total weight); Housing and Utilities (11 percent); Furnishings, Household Equipment and Routine Maintenance of the House (8 percent) and Clothing and Footwear (8 percent). Others include: Transport (6 percent); Miscellaneous Goods and Services (5 percent) and Education (3 percent). Alcoholic Beverages and Tobacco, Recreation and Culture, Communications, Health and Restaurants and Hotels account for the remaining 5 percent of total weight. .