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Zambia’s inflation rate fell to 6.5% in June, the lowest level since early 2018. The latest reading extended a steady decline from 11.2% in December 2025 and reflected the country’s strongest economic performance in years.
Statistician-General Sheila Mudenda said consumer prices rose 0.1% month on month in June, while the annual rate slipped from 6.6% in May. The drop shows that price growth has continued to slow across several parts of the economy.
The recovery has been supported by a stronger local currency and firmer copper activity. The kwacha has appreciated by 16% against the U.S. dollar at one point, while demand for copper and export earnings have helped improve economic conditions.
Zambia has been benefiting from its mining sector, which remains central to the economy. The country is aiming to produce more than one million tonnes of copper by 2026 and to triple output to three million tonnes by 2031, helped by new investment inflows.
The inflation decline also marks a return to a level last seen in 2018, before the disruptions that followed the pandemic period. Zambia had started 2026 with single-digit inflation for the first time in three years, after closing 2025 at 11.2%.
Recent government data also showed rising refined copper exports. For the January-to-February 2026 period, exports reached 155.3 thousand metric tonnes, up from 140.0 thousand metric tonnes a year earlier, a gain of 10.9%.
