The annual inflation rate in Zambia eased for a fifth straight month to 16.4% in December of 2021, from 19.3% in the prior month. That was the lowest rate since October last year, as prices slowed for both food (19.9% vs 25.4% in November) and non-food products (12.1% vs 12.2%). At the same time, the kwacha appreciated further after the country reached a staff level agreement on a $1.4 billion extended credit facility with the International Monetary Fund early in the month, which is seen as crucial for debt restructuring. To secure the bailout, Zambia has increased pump prices by a fifth after removing subsidies on petroleum products that had kept costs artificially stable since 2019. Still, the increase in fuel costs followed by a hike in transport fares of 18% to 34% were not reflected in the latest inflation reading as they happened after price data was collected by the statistics agency. On a monthly basis, consumer prices were up 0.6%, the same pace as in November. source: Central Statistical Office of Zambia
Inflation Rate in Zambia averaged 10.84 percent from 2005 until 2021, reaching an all time high of 24.60 percent in June of 2021 and a record low of 6 percent in December of 2011. This page provides the latest reported value for - Zambia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zambia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Inflation Rate in Zambia is expected to be 18.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia Inflation Rate is projected to trend around 10.00 percent in 2023 and 9.30 percent in 2024, according to our econometric models.