The annual inflation rate in Zambia quickened for the third straight month to 17.4 percent in November of 2020, reaching its highest level since September of 2016. Prices advanced faster for both food (16.8 percent vs 14.6 percent in October) and non-food products (18.2 percent vs 17.7 percent). On a monthly basis, consumer prices inched up 2.2 percent, the most since April, following a 1.3 percent increase in the prior month. Inflation has been persistently above the central bank's target band of 6-8% for almost a year and a half and may accelerate due to the continued depreciation of the kwacha and a recent default. source: Central Statistical Office of Zambia

Inflation Rate in Zambia averaged 10.05 percent from 2005 until 2020, reaching an all time high of 22.90 percent in February of 2016 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 December of 2020.

Inflation Rate in Zambia is expected to be 16.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Zambia to stand at 14.60 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 13.50 percent in 2021 and 10.00 percent in 2022, according to our econometric models.

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Zambia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
17.40 16.00 22.90 6.00 2005 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-27 08:15 AM Aug 15.5% 15.8% 14.8%
2020-09-24 08:15 AM Sep 15.7% 15.5% 15.3%
2020-10-29 08:10 AM Oct 16% 15.7% 15.9%
2020-11-26 08:30 AM Nov 17.4% 16% 16.5%
2020-12-28 08:15 AM Dec 17.4% 16.7%
2021-01-29 08:15 AM Jan
2021-02-26 12:15 PM Feb
2021-03-26 08:30 AM Mar


News Stream
Zambia November Inflation Rate Quickens to Over 4-Year High
The annual inflation rate in Zambia quickened for the third straight month to 17.4 percent in November of 2020, reaching its highest level since September of 2016. Prices advanced faster for both food (16.8 percent vs 14.6 percent in October) and non-food products (18.2 percent vs 17.7 percent). On a monthly basis, consumer prices inched up 2.2 percent, the most since April, following a 1.3 percent increase in the prior month. Inflation has been persistently above the central bank's target band of 6-8% for almost a year and a half and may accelerate due to the continued depreciation of the kwacha and a recent default.
2020-11-26
Zambia October Inflation Rate Soars to 5-Month High of 16%
The annual inflation rate in Zambia quickened for the second straight month to 16 percent in October of 2020, reaching the highest level in 5 months. Inflation remained sharp for non-food products (at 17.7 percent) and it accelerated for food (14.6 percent vs 14 percent). On a monthly basis, consumer prices were up 1.3 percent, following a 1.4 percent increase in the previous month. Inflation has been persistently above the central bank's target band of 6-8% for almost a year and a half and may accelerate due to the continued depreciation of the kwacha. Africa's worst-performing currency has fallen around 30 percent against the dollar since the start of the year.
2020-10-29
Zambia September Inflation Rate Speeds Up to 15.7%
The annual inflation rate in Zambia rose to 15.7 percent in September of 2020 from 15.5 percent in August, pushed up by prices of non-food products (17.7 percent vs 15.4 percent in August), namely transport (40.1 percent vs 33.9 percent) and housing & utilities (23.5 percent vs 18.8 percent). Meanwhile, food inflation slowed (14 percent vs 15.5 percent). On a monthly basis, consumer prices inched up 1.4 percent, after increasing 0.5 percent in the prior month. Inflation has been persistently above the central bank's target band of 6-8% for more than two years and may accelerate due to the continued depreciation of the kwacha.
2020-09-24
Zambia August Inflation Rate Remains Sharp at 15.5%
Annual inflation rate in Zambia fell marginally to 15.5 percent in August of 2020 from 15.8 percent in July, as food prices slowed slightly (15.5 percent vs 16.1 percent), namely cereals and vegetables. Meantime, non-food inflation remained sharp (at 15.4 percent), mainly attributable to the prices of transport (33.9 percent vs 34.1 percent); housing & utilities (18.8 percent vs 18.4 percent) and health (12.5 percent vs 12.4 percent). On a monthly basis, consumer prices inched up 0.5 percent, after increasing 0.3 percent in the prior month, mostly driven by food prices.
2020-08-28

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. .