LUSAKA, July 30 – Zambia’s annual inflation rate remained unchanged at 6.5% in July, reflecting continued price stability as the appreciation of the kwacha helped contain the cost of imported goods.
Data released by the Zambia Statistics Agency showed that consumer prices increased 6.5% year-on-year, matching the inflation rate recorded in June and keeping inflation close to the lower end of the Bank of Zambia’s 6% to 8% target range.
On a month-on-month basis, consumer prices rose by 0.2% in July, indicating that inflationary pressures remained relatively subdued.
Speaking in Lusaka, Statistician-General Sheila Mudenda announced the latest inflation figures, highlighting the continued moderation in consumer price growth despite broader economic uncertainties.
The stability in inflation has been supported by the recent strength of the Zambian kwacha, which has helped reduce the cost of imported goods and ease imported inflation, providing relief for consumers and businesses.
A sustained period of inflation within the central bank’s target range could provide policymakers with greater flexibility as they seek to balance price stability with efforts to support economic growth. The latest data also reinforces signs of improving macroeconomic conditions as Zambia continues its fiscal and debt reform programme following its sovereign debt restructuring.
