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Zambia Inflation at 3-Year High Raises Chance of More Rate Hikes

  • Inflation quickened to 10.5% in September from 9.3% in August
  • Country battling worst drought in almost four decades
General Economy And Kwacha Banknotes As Zambia Seeks To Reverse World's Worst Currency Performance

Photographer: Waldo Swiegers/Bloomberg

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Zambia’s inflation rate rose to the highest in three years in September, increasing chances that the nation’s central bank will resume its tightening before the end of the year.

Consumer inflation accelerated to 10.5% from 9.3% in August, Mulenga Musepa, interim statistician general at Zambia’s statistics agency, told reporters Thursday in the capital, Lusaka. That’s the fastest rate of price growth since November 2016. Costs rose 1.2% in the month.