Inflation Zambia 2020
Average inflation: 15.7%
Current Inflation
Inflation is very high at 15.7%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 19.2%. The lowest inflation was in January at 12.5%.
- Highest month
- December: 19.2%
- Lowest month
- January: 12.5%
- Difference
- 6.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 18.8%. The lowest price increase was in Food with an average of 16.2%.
- Highest increase
- Energy: 18.8%
- Lowest increase
- Food: 16.2%
Historical Context
Current inflation is 4.3% higher than the 5-year average of 11.4%.
- 5-year average
- 11.4%
- 10-year average
- 9.5%
- All-time high (2016)
- 18.2%
- All-time low (2011)
- 6.4%
Trend
Inflation shows an upward trend. Compared to 2019, inflation has risen by +6.6 percentage point.
- Change vs. previous year
- +6.6 percentage points
- Largest monthly swing
- May: +8.4 percentage points
ECB Target
Inflation is 13.7% 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 €115.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2020
Month overview
| Month | Inflation | Difference vs. 2019 |
|---|---|---|
| January | 12.5% | +4.6 |
| February | 13.9% | +6.1 |
| March | 14.0% | +6.5 |
| April | 15.7% | +8.0 |
| May | 16.5% | +8.4 |
| June | 15.9% | +7.3 |
| July | 15.8% | +7.0 |
| August | 15.5% | +6.2 |
| September | 15.7% | +5.2 |
| October | 16.0% | +5.3 |
| November | 17.4% | +6.6 |
| December | 19.2% | +7.5 |
| Average | 15.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.