The annual inflation rate in Zambia quickened for a 14th consecutive month to 16.6 percent in May of 2020 from 15.7 percent in the previous month. It was the highest inflation rate since September of 2016, as prices advanced faster for both food (17.5 percent vs 17 percent in April) and non-food products (15.5 percent vs 14.2 percent). The continued depreciation of the kwacha which accelerated sharply following the coronavirus outbreak also has been pushing prices higher. On a monthly basis, consumer prices increased 1.6 percent compared to a 2.2 percent rise in the prior month.

Inflation Rate in Zambia averaged 9.84 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 June of 2020. source: Central Statistical Office of Zambia

Inflation Rate in Zambia is expected to be 15.00 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 9.00 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 8.50 percent in 2021 and 8.00 percent in 2022, according to our econometric models.

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Zambia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
16.60 15.70 22.90 6.00 2005 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-27 12:15 PM Feb 13.9% 12.5% 13.1%
2020-03-26 08:30 AM Mar 14% 13.9% 13.6%
2020-04-30 08:15 AM Apr 15.7% 14% 14.6%
2020-05-28 08:20 AM May 16.6% 15.7% 16%
2020-06-26 08:30 AM Jun 16.6% 15%
2020-07-24 08:20 AM Jul
2020-08-28 08:20 AM Aug
2020-09-25 08:15 AM Sep 12%


News Stream
Zambia May Inflation Rate Nears 4-Year High of 16.6%
The annual inflation rate in Zambia quickened for a 14th consecutive month to 16.6 percent in May of 2020 from 15.7 percent in the previous month. It was the highest inflation rate since September of 2016, as prices advanced faster for both food (17.5 percent vs 17 percent in April) and non-food products (15.5 percent vs 14.2 percent). The continued depreciation of the kwacha which accelerated sharply following the coronavirus outbreak also has been pushing prices higher. On a monthly basis, consumer prices increased 1.6 percent compared to a 2.2 percent rise in the prior month.
2020-05-28
Zambia April Inflation Rate Highest since 2016
The annual inflation rate in Zambia quickened for a 13th consecutive month to 15.7 percent in April of 2020 from 14 percent in the previous month. It was the highest inflation rate since September of 2016, amid the continued depreciation of the kwacha. The currency has weakened 2.5 percent against the greenback this month and around 24 percent so far this year, as coronavirus heightened default concerns. Main upward pressure came from prices of food & non-alcoholic beverages (17 percent vs 15.2 percent in March); transport (40.1 percent vs 31 percent) and housing & utilities (17.1 percent vs 17.4 percent). On a monthly basis, consumer prices inched up 2.2 percent, after rising 1.2 percent in the previous month.
2020-04-30
Zambia February Inflation Rate Nears 3-1/2-Year High
The annual inflation rate in Zambia climbed to 13.9 percent in February of 2020 from 12.5 percent in the previous month. The inflation rate has been above 10%, a level not seen since October 2016, in the last 6 months as prices advanced further for food (15.9 percent vs 15.4 percent in January), mainly on account of rising prices of maize grain and meats. In addition, non-food inflation also quickened (11.6 percent vs 9.4 percent), mainly attributed to rental fees, cement, purchase of vehicles and transport services. On a monthly basis, consumer prices inched up 1.9 percent, after increasing 1.8 percent in the previous month.
2020-03-02
Zambia Inflation Rate Rises Further to 12.5% in January
The annual inflation rate in Zambia soared to 12.5 percent in January 2020 from 11.7 percent in the previous month. It was the highest inflation rate since October 2016. Prices rose faster mostly for food (15.4 percent vs 15.2 percent in December), especially bukabuka, dried bream, dried kapenta,mpulungu, cooking oil and fruits; and housing & utilities (12 percent vs 5.3 percent) as well as transport (18.6 percent vs 17.6 percent), on account of higher electricity tariffs and fuel pump prices adjusted by the Energy Regulation Board on December 27th 2019. On a monthly basis, consumer prices inched up 1.8 percent, after advancing 1.6 percent in the preceding month, mainly attributed to non-food products such as electricity, petrol and diesel.
2020-01-31

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. .