FX.co ★ Zambia Inflation Rate Softens for 7th Month

Zambia's annual inflation rate continued its downward trajectory, reaching 10.9% in November 2025—this is the lowest rate recorded since August 2023—down from 11.9% the previous month. This is the seventh consecutive period where price growth has slowed, attributed mainly to a strengthening kwacha. In November, food inflation eased to 13.9%, a slight decline from October's 14.1%, while the growth of non-food prices decreased to 6.6%, down from 8.7%. On a month-to-month basis, the Consumer Price Index (CPI) increased by 0.7% in November, marking the most significant rise in seven months, following a 0.4% gain in October.