Zambia Bucks Global Inflation Trend With Drop to Three-Year Low

Zambia’s inflation rate dropped below 10% for the first time in almost three years in June, bucking a global trend of record consumer-price growth..

Consumer prices rose 9.7% from a year earlier, compared with 10.2%% in May, interim Statistician-General Mulenga Musepa told reporters Thursday in Lusaka, the capital. The last time the southern African nation’s inflation rate was under 10% was in August 2019. Annual food-price growth slowed to 11.9% in June, compared with 12.3% in the previous month, and non-food inflation decelerated to 6.9% from 7.5%. Costs climbed 0.9% in the month.