FX.co ★ Zambia Inflation Rate Rises to 6.3% in October

Zambia’s annual inflation rate inched up to 6.3% in October 2026 from 6.1% in September, when it had reached its lowest level since February 2018. Non-food inflation accelerated to 7.4% from 6.6% a month earlier, driven by higher international oil prices, a weaker kwacha, and the reinstatement of excise duty on fuel from October. In addition, VAT on petroleum products is scheduled to be reinstated on December 1, 2026. By contrast, food inflation eased slightly to 5.7% from 5.8% in September. On a monthly basis, consumer prices rose 0.7%, up from a 0.4% increase in the previous month.