Zambia's annual inflation rate edged down to 7.8 percent in February 2019 from 7.9 percent in the previous month. Prices slowed manly for food & non-alcoholic beverages (7.7% vs 8.2% in January), namely bread and cereals, meat products and vegetables including tomatoes, chinese cabbage, pumpkin leaves and fresh maize cob. Also, cost rose less for miscellaneous goods & services (6.4% vs 7.2%) and education (5.9% vs 7.6%) and recreation & culture (2.9% vs 3.6%). Conversely, inflation accelerated for housing & utilities (6.5% vs 6.0%); furnishings (6.1% vs 5.5%) and transport (20.7% vs 19%). On a monthly basis, consumer prices rose 0.7 percent, after a 1 percent increase in January. Inflation Rate in Zambia averaged 9.73 percent from 2005 until 2019, reaching an all time high of 22.90 percent in February of 2016 and a record low of 6 percent in December of 2011.
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. Looking forward, we estimate Inflation Rate in Zambia to stand at 7.50 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.