Economics
Zambia Bucks Global Inflation Trend With Drop to Three-Year Low
- Consumer prices rose 9.7% in June from a year earlier
- Inflation Fell Below 10% for first time in three years
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Zambia’s inflation rate dropped below 10% for the first time in almost three years in June, bucking a global trend of record consumer-price growth.
Consumer prices rose 9.7% from a year earlier, compared with 10.2%% in May, interim Statistician-General Mulenga Musepa told reporters Thursday in Lusaka, the capital. The last time the southern African nation’s inflation rate was under 10% was in August 2019. Annual food-price growth slowed to 11.9% in June, compared with 12.3% in the previous month, and non-food inflation decelerated to 6.9% from 7.5%. Costs climbed 0.9% in the month.