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.

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.

The annual inflation rate in Zambia eased to 7.5% in February 2026 from 9.4% in the previous month. This marked the lowest rate since March 2019, due to softer price increases across most main groups, particularly food and non-alcoholic beverages (8.2% vs 10.9% in January), housing and utilities (8.8% vs 9.9%), furnishing, household equipment, and routine household maintenance (6.3% vs 6.6%), clothing and footwear (8.2% vs 8.5%), transport (0.4% vs 2.2%), and miscellaneous goods and services (9.4% vs 9.5%). On a monthly basis, consumer prices increased by 0.6%, following a 0.5% rise in January.