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. Inflation Rate in Zambia averaged 9.70 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 7.60 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.