Inflation Falls to 6.2 Percent

Zambia’s annual inflation rate has continued to ease, falling to 6.2 percent in August 2026 from 6.5 percent recorded in July.

Zambia Statistics Agency Acting Statistician General Chola Daka says this means that, on average, prices of goods and services increased by 6.2 percent between August 2025 and August 2026.

Dr. Daka says the latest figure marks a further slowdown in inflation, which has been on a downward trajectory from 12.6 percent in August 2025 to the current 6.2 percent.

The moderation has also been reflected in food prices, with annual food inflation declining to 6.0 percent in August from 6.4 percent in July. ZamStats attributes the movement mainly to changes in prices of selected food items, including cereals, sugar, cooking oil and dried beans.

Meanwhile, non-food inflation eased to 6.6 percent from 6.7 percent, largely due to movements in prices of fuels and lubricants as well as the purchase of vehicles.

The latest inflation outturn places overall price growth firmly in the Bank of Zambia’s 6-to-8 percent inflation target range, following the sharp decline recorded since the beginning of the year.

For consumers, however, the lower inflation rate does not mean prices have fallen; rather, it indicates that prices are increasing at a slower pace than they were a year ago.