Inflation Zambia 2022
Average inflation: 11.1%
Current Inflation
Inflation is very high at 11.1%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 15.1%. The lowest inflation was in June at 9.7%.
- Highest month
- January: 15.1%
- Lowest month
- June: 9.7%
- Difference
- 5.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 13.2%. The lowest price increase was in Energy with an average of 8.2%.
- Highest increase
- Food: 13.2%
- Lowest increase
- Energy: 8.2%
Historical Context
Current inflation is 2.0% lower than the 5-year average of 13.1%.
- 5-year average
- 13.1%
- 10-year average
- 11.5%
- All-time high (2021)
- 22.1%
- All-time low (2011)
- 6.4%
Trend
Inflation shows a downward trend. Compared to 2021, inflation has fallen by +11.0 percentage point.
- Change vs. previous year
- -11.0 percentage points
- Largest monthly swing
- June: -14.9 percentage points
ECB Target
Inflation is 9.1% 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 €111.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 15.1% | -6.4 |
| February | 14.2% | -8.0 |
| March | 13.1% | -9.7 |
| April | 11.5% | -11.2 |
| May | 10.2% | -13.0 |
| June | 9.7% | -14.9 |
| July | 9.9% | -14.7 |
| August | 9.8% | -14.6 |
| September | 9.9% | -12.2 |
| October | 9.7% | -11.4 |
| November | 9.8% | -9.5 |
| December | 9.9% | -6.5 |
| Average | 11.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.