The annual inflation rate in Zambia eased further to 6.5% in June 2026, a fresh low since February 2018, down from May’s 6.6%.
Food inflation softened to 6.7% in June from 6.9% previously, while non-food inflation edged down to 6.0% from 6.1%, helped to a bumper corn harvest and the resilience of the domestic currency.
At the same time, fuel taxes were suspended until the end of June under a government moratorium. The kwacha has strengthened nearly 20% this year, supported by copper mining inflows and progress in the restructuring of the national debt, helping to curb inflationary pressures.
Zambia recently secured investor backing for a buyback of its $1.36 billion 2053 bond, aimed at reducing borrowing costs, strengthening public finances and expanding electricity access.
On a monthly basis, the CPI edged up by 0.1% in June, following a 0.25 increase in the month before.
