The annual inflation rate in Zambia quickened for the second straight month to 16 percent in October of 2020, reaching the highest level in 5 months. Inflation remained sharp for non-food products (at 17.7 percent) and it accelerated for food (14.6 percent vs 14 percent). On a monthly basis, consumer prices were up 1.3 percent, following a 1.4 percent increase 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. Africa's worst-performing currency has fallen around 30 percent against the dollar since the start of the year. source: Central Statistical Office of Zambia
Inflation Rate in Zambia averaged 10.01 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 November of 2020.
Inflation Rate in Zambia is expected to be 16.70 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 14.60 in 12 months time. In the long-term, the Zambia Inflation Rate is projected to trend around 13.50 percent in 2021 and 10.00 percent in 2022, according to our econometric models.