Zambia Inflation Rate Keeps Slowing

2026-06-25 09:46 By Luisa Carvalho 1 min. read

The annual inflation rate in Zambia eased further to 6.5% in June 2026, a fresh low since February 2018, down from May's 6.6%.

Food inflation softened to 6.7% in June from 6.9% previously, while non-food inflation edged down to 6.0% from 6.1%, helped to a bumper corn harvest and the resilience of the domestic currency.

At the same time, fuel taxes were suspended until the end of June under a government moratorium. The kwacha has strengthened nearly 20% this year, supported by copper mining inflows and progress in the restructuring of the national debt, helping to curb inflationary pressures.

Zambia recently secured investor backing for a buyback of its $1.36 billion 2053 bond, aimed at reducing borrowing costs, strengthening public finances and expanding electricity access.

On a monthly basis, the CPI edged up by 0.1% in June, following a 0.25 increase in the month before.



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Zambia Inflation Rate Keeps Slowing
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