Inflation Zambia 2021
Average inflation: 22.1%
Current Inflation
Inflation is very high at 22.1%, far above the ECB target.
Peak and Trough
The highest inflation was in June at 24.6%. The lowest inflation was in December at 16.4%.
- Highest month
- June: 24.6%
- Lowest month
- December: 16.4%
- Difference
- 8.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 27.8%. The lowest price increase was in Energy with an average of 18.5%.
- Highest increase
- Food: 27.8%
- Lowest increase
- Energy: 18.5%
Historical Context
Current inflation is 9.9% higher than the 5-year average of 12.2%. This approaches the highest level since records began (22.1% in 2021).
- 5-year average
- 12.2%
- 10-year average
- 11.1%
- All-time high (2021)
- 22.1%
- All-time low (2011)
- 6.4%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +6.4 percentage point.
- Change vs. previous year
- +6.4 percentage points
- Largest monthly swing
- January: +9.0 percentage points
ECB Target
Inflation is 20.1% 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 €122.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 21.5% | +9.0 |
| February | 22.2% | +8.3 |
| March | 22.8% | +8.8 |
| April | 22.7% | +7.0 |
| May | 23.2% | +6.7 |
| June | 24.6% | +8.7 |
| July | 24.6% | +8.8 |
| August | 24.4% | +8.9 |
| September | 22.1% | +6.4 |
| October | 21.1% | +5.1 |
| November | 19.3% | +1.9 |
| December | 16.4% | -2.8 |
| Average | 22.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.