Zambia Inflation Rate Drops to Target Band Faster Than Expected

Zambia’s annual inflation rate fell below the central bank’s target ceiling for the first time in almost seven years, bolstering the case for further interest-rate cuts.

Consumer prices in the copper-rich southern African nation rose 7.5% in February, compared with 9.4% last month, acting Statistician-General Sheila Mudenda told reporters in Lusaka, the capital, on Wednesday.