FX.co ★ Zambia Inflation Rate Rises from 27-Month Low

Zambia's annual inflation rate increased to 11.2% in December 2025, up from a 27-month low of 10.9% recorded in November. This rise breaks a seven-month trend of decreasing price pressures. The increase was primarily driven by a significant rise in non-food inflation, which escalated to 8.7% from the previous 6.6%, mainly due to higher costs in the garment sector and air travel. Meanwhile, food inflation experienced a slight reduction, dropping to 12.9% from 13.9%, attributed mainly to slower price hikes in cereals and meats. On a month-to-month basis, consumer prices surged by 1.5%, marking the steepest increase since February and accelerating from a 0.7% increase in October.