Inflation Zambia 2019
Average inflation: 9.1%
Current Inflation
Inflation is very high at 9.1%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 11.7%. The lowest inflation was in March at 7.5%.
- Highest month
- December: 11.7%
- Lowest month
- March: 7.5%
- Difference
- 4.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 10.4%. The lowest price increase was in Energy with an average of 5.7%.
- Highest increase
- Food: 10.4%
- Lowest increase
- Energy: 5.7%
Historical Context
Current inflation is 1.2% lower than the 5-year average of 10.3%.
- 5-year average
- 10.3%
- 10-year average
- 8.8%
- All-time high (2016)
- 18.2%
- All-time low (2011)
- 6.4%
Trend
Inflation shows an upward trend. Compared to 2018, inflation has risen by +1.6 percentage point.
- Change vs. previous year
- +1.6 percentage points
- Largest monthly swing
- December: +3.8 percentage points
ECB Target
Inflation is 7.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €109.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2019
Month overview
| Month | Inflation | Difference vs. 2018 |
|---|---|---|
| January | 7.9% | +1.7 |
| February | 7.8% | +1.7 |
| March | 7.5% | +0.4 |
| April | 7.7% | +0.3 |
| May | 8.1% | +0.3 |
| June | 8.6% | +1.2 |
| July | 8.8% | +1.0 |
| August | 9.3% | +1.2 |
| September | 10.5% | +2.6 |
| October | 10.7% | +2.4 |
| November | 10.8% | +3.0 |
| December | 11.7% | +3.8 |
| Average | 9.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.