Zambia Tasa De Inflación

The annual inflation rate in Zambia continued to climb for the 15th month to reach 15.6% in September 2024, the highest since December 2021, up from 15.5% in the prior month. Food prices accelerated (17.9% vs 17.6% in August), while non-food price growth slowed (12.4% vs 12.5%). The upward trend in inflation is largely driven by an El Niño-induced drought that has severely impacted crop yields, leading to sharp increases in the prices of corn, rice, and meat. This unprecedented drought, the worst in over a century, has also hampered hydropower generation. Consequently, increased reliance on imports of electricity and food has weakened the kwacha, further exacerbating price pressures.