Currency Plunge Pushes Zambia Inflation to Three-Month High
- Inflation quickened to 9.9% in March from a year earlier
- Currency set for biggest quarterly decline in three years
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Zambian inflation quickened to a three-month high in March as a slide in the currency, largely driven by the country’s stalled debt restructuring talks, pushed up the price of imports such as gasoline and cereals.
Annual consumer-price growth accelerated to 9.9%, from 9.6% in February, Statistician-General Mulenga Musepa told reporters Thursday in Lusaka, the capital. Inflation has been above the central bank’s 6% to 8% target range since April 2019.