The annual inflation rate in Zambia soared for the sixth straight month to 22.2% in February of 2021, reaching its highest level since March of 2016. Food inflation was the highest since at least January of 2011 (27.3% vs 25.6% in January), driven by prices of cereals; meats; fish; fruits; vegetables fats & oils and milk and eggs. Meanwhile, non-food inflation slower further (16.2% vs 16.7%), of which housing & utilities (13.2% vs 14.6%) and transport (29.3% vs 38.6%). On a monthly basis, consumer prices were up 2.5%, slowing from a 3.7% rise in the previous month. source: Central Statistical Office of Zambia

Inflation Rate in Zambia averaged 10.23 percent from 2005 until 2021, 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 March of 2021.

Inflation Rate in Zambia is expected to be 16.40 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 13.50 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 10.00 percent in 2022, according to our econometric models.

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Zambia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
22.20 21.50 22.90 6.00 2005 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-26 08:30 AM Nov 17.4% 16% 16.5%
2020-12-31 08:50 AM Dec 19.2% 17.4% 16.7%
2021-01-28 08:10 AM Jan 21.5% 19.2% 19.7%
2021-02-25 08:30 AM Feb 22.2% 21.5% 23%
2021-03-26 08:30 AM Mar 22.2%
2021-04-30 08:15 AM Apr
2021-05-28 08:20 AM May
2021-06-25 08:30 AM Jun
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Zambia February Inflation Rate at Near 5-Year High
The annual inflation rate in Zambia soared for the sixth straight month to 22.2% in February of 2021, reaching its highest level since March of 2016. Food inflation was the highest since at least January of 2011 (27.3% vs 25.6% in January), driven by prices of cereals; meats; fish; fruits; vegetables fats & oils and milk and eggs. Meanwhile, non-food inflation slower further (16.2% vs 16.7%), of which housing & utilities (13.2% vs 14.6%) and transport (29.3% vs 38.6%). On a monthly basis, consumer prices were up 2.5%, slowing from a 3.7% rise in the previous month.
2021-02-28
Zambia January Inflation Rate at Near 5-Year High
The annual inflation rate in Zambia climbed for the fifth straight month to 21.5% in January of 2021, reaching its highest level since April of 2016. Food inflation hit an over four-year high of 25.6% in December, from 20.2% in the prior month, mainly driven by prices of bread and cereals; meats; fish; vegetables; fats & oils and eggs. Meanwhile, non-food inflation slowed (16.7% vs 18.1%) mainly attributed to the base effect in household appliances and gas (propane). On a monthly basis, consumer prices inched up 3.7%, the most since November of 2015, after increasing 3.2% in the previous month.
2021-01-31
Zambia December Inflation Rate Soars to Over 4-Year High
The annual inflation rate in Zambia quickened for the fourth straight month to 19.2% in December of 2020, reaching its highest level since August of 2016. Food inflation hit a four-year high of 20.2% in November, from 16.8% in the previous month, mainly driven by fish, meat and cooking-oil prices. On a monthly basis, consumer prices inched up 3.2%, the most since November of 2015, after increasing 2.2% in the previous 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 which was aggravated by a recent default on its sovereign debt.
2020-12-31
Zambia November Inflation Rate Quickens to Over 4-Year High
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.
2020-11-26

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. .