Economics
Zambian Inflation at 3-Year High Increases Chance of Rate Hike
- Country battling worst drought in almost four decades
- Central bank warned of rate hikes if inflation not in target
Traders at a street market in Lusaka, Zambia.
Photographer: Waldo Swiegers/Bloomberg
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Zambia’s inflation rate surged to the highest level in almost three years in August, increasing chances that the central bank will continue tightening.
Consumer inflation accelerated to 9.3% from 8.8% in July, Iven Sikanyiti, assistant director for social statistics at Zambia’s statistics agency, told reporters Thursday in the capital, Lusaka. That’s the highest rate since October 2016. Prices rose 0.7% in the month.