The annual inflation rate in Zambia fell to 6.6% in May 2026 from 6.8% in the prior month, marking the lowest since February 2018 and extending the slowdown to a fifth consecutive month. A stronger kwacha, boosted by rising copper prices and a bumper corn harvest, helped cushion inflationary pressures linked to the Middle East conflict. Food inflation moderated to 6.9% in May from 7.3% previously, while non-food price growth edged higher to 6.1% from 6%. On a monthly basis, the CPI rose by 0.2%, after a 0.7% increase in the month before. source: Central Statistical Office of Zambia

Inflation Rate in Zambia decreased to 6.60 percent in May from 6.80 percent in April of 2026. Inflation Rate in Zambia averaged 11.13 percent from 2005 until 2026, reaching an all time high of 24.60 percent in June of 2021 and a record low of 6.00 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 May of 2026.

Inflation Rate in Zambia decreased to 6.60 percent in May from 6.80 percent in April of 2026. Inflation Rate in Zambia is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia Inflation Rate is projected to trend around 3.70 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-30 08:20 AM
Inflation Rate YoY
Apr 6.8% 7.1% 7.4%
2026-05-28 08:30 AM
Inflation Rate YoY
May 6.6% 6.8% 7.0%
2026-06-25 08:30 AM
Inflation Rate YoY
Jun 6.6% 6.5%


Related Last Previous Unit Reference
CPI Housing Utilities 565.36 560.89 points May 2026
CPI Transportation 696.06 712.44 points May 2026
Inflation Rate YoY 6.60 6.80 percent May 2026
Inflation Rate MoM 0.20 0.70 percent May 2026


Zambia Inflation Rate
In Zambia, the four main components of the consumer price index are: Food & Non-Alcoholic Beverages (54% of the total weight); Housing & Utilities (11%); Furnishings, Household Equipment & Routine Maintenance of the House (8%); and Clothing & Footwear (8%). Others include: Transport (6%); Miscellaneous Goods & Services (5%); Education (3%). Alcoholic Beverages and Tobacco, Recreation and Culture, Communications, Health and Restaurants & Hotels account for the remaining 5% of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
6.60 6.80 24.60 6.00 2005 - 2026 percent Monthly

News Stream
Zambia Inflation Rate Cools Down for 5th Month
The annual inflation rate in Zambia fell to 6.6% in May 2026 from 6.8% in the prior month, marking the lowest since February 2018 and extending the slowdown to a fifth consecutive month. A stronger kwacha, boosted by rising copper prices and a bumper corn harvest, helped cushion inflationary pressures linked to the Middle East conflict. Food inflation moderated to 6.9% in May from 7.3% previously, while non-food price growth edged higher to 6.1% from 6%. On a monthly basis, the CPI rose by 0.2%, after a 0.7% increase in the month before.
2026-05-28
Zambia Inflation Rate Slows Further
The annual inflation rate in Zambia eased to 6.8% in April 2026 from 7.1% in March, marking a fourth consecutive monthly slowdown. This was the lowest reading since February 2018, as food inflation slowed to 7.3% from 7.8% in the prior month. Meanwhile, inflation for non-food products increased marginally to 6.0% from 5.9% in March, mainly reflecting higher prices for pharmaceutical products, domestic and regional airfares, and accommodation services. On a monthly basis, the CPI rose by 0.7%, following a 0.6% increase in the prior month.
2026-04-30
Zambia Inflation Rate Hits 2018-Lows
The annual inflation rate in Zambia fell further to 7.1% in March 2026 from 7.5% in February, marking the third consecutive month of deceleration. This was the lowest reading since March 2018, as both food inflation (7.8% vs8.2% in February) and non-food prices (5.9% vs 6.5%) slowed. On a monthly basis, the CPI rose by 0.6% in March, the same pace as in the prior month.
2026-03-26