Inflation & Prices
Zambia Inflation Accelerates to Three-Year High in December
- Consumer prices rose 16.7% in December from a year earlier
- High inflation, currency weakness may see rate hike on Feb. 12
Downtown Lusaka, Zambia.
Photographer: Zinyange AuntonyThis article is for subscribers only.
Zambia’s annual inflation rate climbed for an 18th month in December as the nation’s worst drought in more than a century and the kwacha’s continued weakness stoked prices.
Consumer prices rose 16.7% from a year earlier, compared with 16.5% in November, acting Statistician-General Sheila Mudenda told reporters Thursday in Lusaka, the capital. That’s the highest level since November 2021. Annual inflation has exceeded the upper end of the central bank’s target band of 6% to 8% since May 2019.