Zambia's annual inflation rate soared to 9.3 percent in August 2019 from 8.8 percent in the previous month. This is the highest inflation rate since October 2016, mainly due rising food prices (10.3 percent vs 9.3 percent in July), amid the worst drought in almost four decades. In this regard, the Agriculture Minister Michael Katambo announced on 25th August, the introduction of a cap on the price of maize to keep the staple food affordable, after prices have reached a record high this year. This sparked farmers’ protests accusing the government of bringing back price controls. On the other hand, inflation remained steady for non-food items (at 8.3 percent). Month-on-month, consumer prices inched up 0.7 percent, after a 0.5 percent gain in the prior month. Inflation Rate in Zambia averaged 9.68 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 9.00 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 8.50 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 8.30 percent in 2020, according to our econometric models.

Zambia Inflation Rate
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Calendar GMT Actual Previous Consensus TEForecast
2019-05-30 08:20 AM Inflation Rate YoY May 8.1% 7.7% 7.8%
2019-06-28 08:30 AM Inflation Rate YoY Jun 8.6% 8.1% 7.8%
2019-07-25 08:20 AM Inflation Rate YoY Jul 8.8% 8.6% 8.3%
2019-08-29 08:20 AM Inflation Rate YoY Aug 9.3% 8.8% 8.8%
2019-09-27 08:15 AM Inflation Rate YoY Sep 9.3% 9.0%
2019-10-25 09:30 AM Inflation Rate YoY Oct 9.2%
2019-11-29 08:15 AM Inflation Rate YoY Nov 9.1%

Zambia Prices Last Previous Highest Lowest Unit
Inflation Rate 9.30 8.80 22.90 6.00 percent [+]
Food Inflation 10.30 9.30 26.50 3.50 percent [+]
Inflation Rate Mom 0.70 0.50 6.20 -0.30 percent [+]
Cpi Housing Utilities 244.20 244.55 244.55 107.92 Index Points [+]
CPI Transportation 276.77 275.91 276.77 103.50 Index Points [+]
Consumer Price Index Cpi 231.27 229.56 231.27 82.70 Index Points [+]

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. . 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
9.30 8.80 22.90 6.00 2005 - 2019 percent Monthly

Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 2.00 Jul/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.50 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.00 Jul/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 2.10 Jul/19
United States 1.70 Aug/19