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.