Zambia Inflation Rate Steady in July

2026-07-30 09:04 By Czyrill Jean Coloma 1 min. read

Zambia’s annual inflation rate stood at 6.5% in July 2026, unchanged from the previous month.

It remained the lowest reading since February 2018 and stayed within the central bank’s 6%-8% target range, supported by a sharp appreciation in the kwacha, which has gained nearly 18% against the dollar this year on the back of surging copper prices and government efforts to encourage local currency usage.

Inflation was also contained by the government’s decision earlier this month to extend a fuel tax moratorium through September 30, providing some relief as renewed tensions in the US-Iran conflict raised concerns over higher global energy and fertilizer costs.

Food inflation eased to 6.4% in July from 6.7% in the previous month, while non-food inflation accelerated to 6.7% from 6.0%.

On a monthly basis, consumer prices rose 0.2%, slightly higher than the 0.1% increase recorded in June.



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Zambia Inflation Rate Steady in July
Zambia’s annual inflation rate stood at 6.5% in July 2026, unchanged from the previous month. It remained the lowest reading since February 2018 and stayed within the central bank’s 6%-8% target range, supported by a sharp appreciation in the kwacha, which has gained nearly 18% against the dollar this year on the back of surging copper prices and government efforts to encourage local currency usage. Inflation was also contained by the government’s decision earlier this month to extend a fuel tax moratorium through September 30, providing some relief as renewed tensions in the US-Iran conflict raised concerns over higher global energy and fertilizer costs. Food inflation eased to 6.4% in July from 6.7% in the previous month, while non-food inflation accelerated to 6.7% from 6.0%. On a monthly basis, consumer prices rose 0.2%, slightly higher than the 0.1% increase recorded in June.
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