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.