Inflation Rate in Zambia decreased to 22.10 percent in September from 24.40 percent in August of 2021. source: Central Statistical Office of Zambia

Inflation Rate in Zambia averaged 10.71 percent from 2005 until 2021, reaching an all time high of 24.60 percent in June of 2021 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 October of 2021.

Inflation Rate in Zambia is expected to be 22.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia Inflation Rate is projected to trend around 14.00 percent in 2022 and 12.00 percent in 2023, according to our econometric models.

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Zambia Inflation Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-08-26 08:15 AM Aug 24.4% 24.6% 25.4%
2021-09-30 08:40 AM Sep 22.1% 24.4% 24.2%
2021-10-29 08:30 AM Oct 22.1% 22%

News Stream
Zambia Inflation Rate Ticks Down to 24.4% in August
The annual inflation rate in Zambia eased to 24.4 percent in August of 2021, from 24.6 percent in July which was the highest inflation rate since March of 2015. Inflation slowed mainly for transport (7.3 percent vs 18.8 percent in July) while advanced for food & non-alcoholic beverages (31.6 percent vs 31.2 percent), housing & utilities (22.7 percent vs 21.6 percent), recreation & culture (15.9 percent vs 13.6 percent) and miscellaneous goods & services (15.4 percent vs 13.7 percent). Also, inflation remained steady for health (at 12.3 percent) and education (at 5.6 percent). On a monthly basis, consumer prices were up 0.4 percent after increasing 0.3 percent in the prior month.
Zambia Inflation Rate Steady at Over 16-Year High
The annual inflation rate in Zambia was unchanged at 24.6 percent in July of 2021, the same as in the previous month and remaining the highest since at least March of 2005. Inflation remained stable for food & non-alcoholic beverages (at 31.2 percent) while advanced slower for housing & utilities (21.6 percent vs 21.9 percent), alcoholic beverages & tobacco (11.6 percent vs 12.1 percent), clothing & footwear (13.3 percent vs 14.4 percent) and restaurants & hotels (13.2 percent vs 13.5 percent). On the other hand, prices advanced faster for transport (18.8 percent vs 18.0 percent). On a monthly basis, consumer prices edged up 0.3 percent after increasing 1.3 percent in June.
Zambia May Inflation Rate at Over 16-Year High
The annual inflation rate in Zambia jumped to 23.2 percent in May of 2021 from 22.7 percent in the previous month. It was the highest inflation rate since at least March of 2005, partly due to a weaker currency and rising food prices (28.5 percent vs 27.2 percent), namely those of meat and fish. Inflation that has been above the upper bound of the central bank’s target range of 6% to 8% for more than two years is expected to stay there until at least the first quarter of 2023. Africa's first pandemic-era sovereign defaulter is seeking to reach a deal on an economic program with the International Monetary Fund that’s crucial to the government’s plans to restructure as much as $12.7 billion of external debt and boost foreign-exchange reserves, which could also improve the kwacha’s outlook and ease inflationary pressures.

Zambia Last Unit Reference Previous Highest Lowest
Inflation Rate 22.10 percent Sep/21 24.40 24.60 6.00
CPI Transportation 391.49 points Sep/21 397.55 439.57 103.50
Cpi Housing Utilities 355.85 points Sep/21 355.78 355.85 107.92

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. .