The annual inflation rate in Zambia soared to 8.6 percent in June 2019 from 8.1 percent in the prior month, hitting its highest level since November 2016. Prices rose faster mostly for transport (21.4% vs 14.5% in May), especially the purchase of motor vehicles and food & non-alcoholic beverages (9.2% vs 9.1%), namely dried & fresh Bream fish, Buka Buka fish, fresh & dried Kapenta and cooking oil. Meanwhile, inflation slowed for housing & utilities (5.9% vs 6.0%); clothing & footwear (6.0% vs 6.4%) and restaurants & hotels (6.5% vs 6.6%). On a monthly basis, consumer prices went up 0.7 percent, after a 0.9 percent increase in the prior month. Inflation Rate in Zambia averaged 9.68 percent from 2005 until 2019, reaching an all time high of 22.90 percent in February of 2016 and a record low of 6 percent in December of 2011.
Inflation Rate in Zambia is expected to be 7.80 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 9.80 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 10.00 percent in 2020, according to our econometric models.