Zambian Inflation Falls to 6.2%, Lowest Level Since 2018
Zambian Inflation Falls to 6.2%, Lowest Level Since 2018
The rate remains within the central bank’s 6–8% target range, Acting Statistician General Chola Daka presented during the inflation release.
What's Driving the Decline?
The overall drop was largely fueled by falling food prices:
▪ Food inflation eased to 6.0% in August, down from 6.4% in July;
▪ Key items seeing price decreases included: Cereals (mealie meal and maize grain), sugar, cooking oil, dried beans.
Non-Food Prices Also Edge Down
Non-food inflation also saw a modest decline, easing to 6.6% from July's 6.7%. This was mainly driven by:
▪ Lower fuel and lubricant prices;
▪ Reduced motor vehicle prices.
The stronger kwacha also reportedly helped contain the cost of imported goods.
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