Zambia Inflation Rate Cools Down for 5th Month

2026-05-28 10:01 By Luisa Carvalho 1 min. read

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.



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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.
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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.
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