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.

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Zambia Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-11-25 08:05 AM Nov 19.3% 21.1% 20.7%
2021-12-30 08:15 AM Dec 16.4% 19.3% 20%
2022-01-28 08:00 AM Jan 16.4% 17.5%


Related Last Previous Unit Reference
Inflation Rate 16.40 19.30 percent Dec/21
CPI Transportation 392.04 392.50 points Dec/21
CPI Housing Utilities 359.06 356.87 points Dec/21

News Stream
Zambia December Inflation Rate at Over 1-Year Low
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.
2021-12-30
Zambia November Inflation Rate at Near 1-Year Low
The annual inflation rate in Zambia fell to 19.3% in November of 2021, from 21.1% in the previous month. That was the lowest rate since last December, on the back of a stronger kwacha that helped to bring down the costs of imports such as household appliances, vehicles, and certain food items like meat and fish. Prices slowed for both food (25.4% vs 28.1% in October) and non-food inflation (12.2% vs 13.2%), namely furnishings (17.1% vs 18.6%); communication (2.8% vs 3.8%); recreation & culture (16.6% vs 18.1%) and restaurants & hotels (12.1% vs 13.5%). Additionally, costs fell for transport (-2.7% vs 0.5%). On a monthly basis, consumer prices were up 0.6%, after a 0.4% increase in the prior month.
2021-11-25
Zambia Inflation Rate Ticks Down to 24.4% in August
The annual inflation rate in Zambia eased to 24.4 percent in August of 2021, from 24.6 percent in July which was the highest inflation rate since March of 2015. Inflation slowed mainly for transport (7.3 percent vs 18.8 percent in July) while advanced for food & non-alcoholic beverages (31.6 percent vs 31.2 percent), housing & utilities (22.7 percent vs 21.6 percent), recreation & culture (15.9 percent vs 13.6 percent) and miscellaneous goods & services (15.4 percent vs 13.7 percent). Also, inflation remained steady for health (at 12.3 percent) and education (at 5.6 percent). On a monthly basis, consumer prices were up 0.4 percent after increasing 0.3 percent in the prior month.
2021-08-30

Zambia Inflation Rate
In Zambia, the four main components of the consumer price index are: Food and Non-Alcoholic Beverages (54 percent of total weight); Housing and Utilities (11 percent); Furnishings, Household Equipment and Routine Maintenance of the House (8 percent) and Clothing and Footwear (8 percent). Others include: Transport (6 percent); Miscellaneous Goods and Services (5 percent) and Education (3 percent). Alcoholic Beverages and Tobacco, Recreation and Culture, Communications, Health and Restaurants and Hotels account for the remaining 5 percent of total weight. .