FX.co ★ Zambia’s Monthly Inflation Inches Up as July CPI Doubles June Pace

Zambia’s consumer price inflation edged higher in July 2026, with the month‑over‑month Consumer Price Index (CPI) rising 0.2%, up from 0.1% in June 2026. The latest data, updated on 30 July 2026, shows that price pressures, while still modest, accelerated slightly compared with the previous month.

The July figure reflects a doubling in the pace of monthly inflation, based on the comparison of price changes in July versus June, while June’s reading captured changes relative to May. Although the absolute increase remains small, the upward move in the CPI suggests a mild firming in short‑term inflation dynamics within the Zambian economy. Investors and policymakers are likely to watch upcoming releases closely to see whether this marks the beginning of a trend or a temporary uptick in consumer prices.