The annual inflation rate in Zambia slowed to 9.4 percent in January 2026 from 11.2 percent in the previous month. This marked the lowest reading since January 2023. Inflation Rate in Zambia averaged 11.20 percent from 2005 until 2026, reaching an all time high of 24.60 percent in June of 2021 and a record low of 6.00 percent in December of 2011. source: Central Statistical Office of Zambia

Inflation Rate in Zambia decreased to 9.40 percent in January from 11.20 percent in December of 2025.

Inflation Rate in Zambia decreased to 9.40 percent in January from 11.20 percent in December of 2025. Inflation Rate in Zambia is expected to be 10.00 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 7.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-24 08:30 AM
Inflation Rate YoY
Dec 11.2% 10.9% 10.0%
2026-01-28 08:20 AM
Inflation Rate YoY
Jan 9.4% 11.2% 11.0%
2026-02-26 08:30 AM
Inflation Rate YoY
Feb 9.4%


Related Last Previous Unit Reference
CPI Housing Utilities 553.45 549.45 points Jan 2026
CPI Transportation 689.13 721.35 points Jan 2026
Inflation Rate YoY 9.40 11.20 percent Jan 2026
Inflation Rate MoM 0.50 1.50 percent Jan 2026


Zambia Inflation Rate
In Zambia, the four main components of the consumer price index are: Food & Non-Alcoholic Beverages (54% of the total weight); Housing & Utilities (11%); Furnishings, Household Equipment & Routine Maintenance of the House (8%); and Clothing & Footwear (8%). Others include: Transport (6%); Miscellaneous Goods & Services (5%); Education (3%). Alcoholic Beverages and Tobacco, Recreation and Culture, Communications, Health and Restaurants & Hotels account for the remaining 5% of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
9.40 11.20 24.60 6.00 2005 - 2026 percent Monthly

News Stream
Zambia Inflation Rate Rises from 27-Month Low
Zambia’s annual inflation rate rose to 11.2% in December 2025 from a 27-month low of 10.9% in the previous month, snapping a seven-month streak of easing price pressures. The uptick was driven by a sharp acceleration in non-food inflation (8.7% vs 6.6% in October), reflecting higher prices for garments and air passenger transport. In contrast, food inflation eased slightly (12.9% vs 13.9%), marking the lowest reading since August 2023, mainly due to slower price increases in cereals and meats. On a monthly basis, consumer prices increased by 1.5%, the strongest rise since February, accelerating from a 0.7% gain in October.
2025-12-25
Zambia Inflation Rate Softens for 7th Month
Zambia's annual inflation rate decelerated further to 10.9% in November 2025, the lowest since August 2023, from 11.9% in the prior month. This marks the seventh consecutive period of slowing price-growth, largely due to a stronger kwacha. Food inflation eased to 13.9% in November, down from 14.1% in October, while non-food price growth slowed to 6.6% from 8.7%. On a monthly basis, the CPI rose by 0.7% in November, the most in seven months, after a 0.4% increase in the previous month.
2025-11-27
Zambia Inflation Rate Slows for 6th Month
Zambia's annual inflation rate fell to 11.9% in October 2025, from 12.3% in September, marking a six-month streak of slowing price growth. It was the lowest reading since August 2023, owing to the kwacha’s continued strength. Food inflation slowed to 14.1% in October from 14.6% in September, while non-food price growth eased to 8.7% from 9%. On a monthly basis, consumer prices increased by 0.4%, after a 0.5% rise in the previous month.
2025-10-30