The annual inflation rate in Zambia rose to 11.7 percent in December 2019 from 10.8 percent in the prior month, mainly due to higher prices of food (15.2 percent vs 13.5 percent in November). On a monthly basis, consumer prices inched up 1.6 percent, after increasing 1 percent in the previous month. Inflation Rate in Zambia averaged 9.71 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. source: Central Statistical Office of Zambia

Inflation Rate in Zambia is expected to be 10.00 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 8.20 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 8.40 percent in 2020, according to our econometric models.

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Zambia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
11.70 10.80 22.90 6.00 2005 - 2019 percent Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-09-26 08:15 AM Sep 10.5% 9.3% 9.5%
2019-10-31 08:10 AM Oct 10.7% 10.5% 11.8%
2019-11-28 08:15 AM Nov 10.8% 10.7% 12.4%
2019-12-26 11:15 AM Dec 11.7% 10.8% 11%
2020-01-27 08:00 AM Jan 11.7% 12.8%


News Stream
2019-10-31
Zambia Inflation Rate Climbs to 10.7%
The annual inflation rate in Zambia edged up to 10.7 percent in October 2019 from 10.5 percent in the previous month. It is the highest inflation rate since October 2016, amid continued food price growth (13.3 percent vs 12.4 percent in September), namely breakfast mealie meal, roller mealie meal, maize grain, rice imported and chicken. In contrast, cost slowed a bit for non-food products (7.8 percent vs 8.3 percent), mainly driven by transport (16.5 percent vs 21.2 percent). On a monthly basis, consumer prices went up 0.9 percent, after rising 1.2 percent in the previous month.

2019-09-26
Zambia Inflation Rate at Near 3-Year High of 10.5%
The annual inflation rate in Zambia climbed to 10.5 percent in September 2019 from 9.3 percent in the prior month. This is the highest inflation rate in almost three years, amid rising prices of food (12.4 percent vs 10.3 percent in August) as the country has been struggling with a severe drought which is causing a lack of the staple food mealie meal and a looming humanitarian crisis. Meantime, poor rainfall is affecting electricity generation created mostly through hydroelectric power, a situation that will drive the country to import power from South Africa starting in October. On a monthly basis, consumer prices rose 1.2 percent, after increasing 0.7 percent in the previous month.

2019-08-29
Zambia August Inflation Rate Rises Further to 9.3%
Zambia's annual inflation rate soared to 9.3 percent in August 2019 from 8.8 percent in the previous month. This is the highest inflation rate since October 2016, mainly due rising food prices (10.3 percent vs 9.3 percent in July), amid the worst drought in almost four decades. In this regard, the Agriculture Minister Michael Katambo announced on 25th August, the introduction of a cap on the price of maize to keep the staple food affordable, after prices have reached a record high this year. This sparked farmers’ protests accusing the government of bringing back price controls. On the other hand, inflation remained steady for non-food items (at 8.3 percent). Month-on-month, consumer prices inched up 0.7 percent, after a 0.5 percent gain in the prior month.

2019-07-01
Zambia Inflation Rate at Over 2-1/2-Year High in June
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.

2019-05-30
Zambia Inflation Rate at 7-Month High
The annual inflation rate in Zambia climbed to 8.1 percent in May 2019 from 7.7 percent in the prior month, reaching its highest level since last October. Prices rose mostly for food & non-alcoholic products (9.1% vs 8.3% in April), namely vegetables; meat and fish products. Additional upward pressure came from transport (14.5%, the same pace as in April); housing & utilities (6% vs 5.8%); furnishings (5.3% vs 5.1%); clothing & footwear (6.4% vs 6.2%); miscellaneous goods & services (6.7% vs 6.6%); recreation & culture (4.6% vs 3.7%) and restaurants & hotels (6.6%, the same pace as in April). On a monthly basis, consumer prices went up 0.9 percent after increasing 0.7 percent in the prior month.

2019-04-26
Zambia Inflation Rate Ticks Up to 7.7% in April
Zambia’s annual inflation rate rose to 7.7 percent in April 2019 from 7.5 percent in the previous month. Prices increased faster for food & non-alcoholic beverages (8.3% vs 8.2% in March), namely bread & cereals such as breakfast meal, roller meal and maize grain and meat products including fillet steak, brisket, pork chops; transport (14.5% vs 14.1%), mainly purchase of vehicles and housing & utilities (5.8% vs 5.3%), due to water supply costs and services relating to dwelling. Meanwhile, inflation slowed for furnishings (5.1% vs 5.6%); education (6.1% vs 6.2%); recreation & culture (3.7% vs 4.4%) and alcoholic beverages & tobacco (5.8% vs 5.9%). On a monthly basis, consumer prices went up 0.7 percent, slowing from a 1.1 percent in the prior month.


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. .

Zambia Prices Last Previous Highest Lowest Unit
Inflation Rate 11.70 10.80 22.90 6.00 percent [+]
Food Inflation 15.20 13.50 26.50 3.50 percent [+]
Inflation Rate Mom 1.60 1.00 6.20 -0.30 percent [+]
Cpi Housing Utilities 250.41 249.51 250.41 107.92 points [+]
CPI Transportation 291.29 285.07 291.29 103.50 points [+]
Consumer Price Index Cpi 242.38 238.64 242.38 82.70 points [+]