• Annual food inflation rose to 13.7% in November from 13.6% in October 2023.
• Non-food inflation increased to 11.8% from 11.3% in October 2023.
• Inflation for November 2023, declined for housing, water, electricity, gas and other fuels.

Annual Inflation rate for November 2023, as measured by the Consumer Price Index (CPI) has again soared to 12.9 percent, up from 12.6 percent recorded in October 2023, driven by price movements in food and non-food items such as cereals, vegetables, fish and fuel.
Addressing journalists in Lusaka, Zambia Statistics Agency (ZamStats) Statistician General, Mulenga Musepa said other drivers include transport fares for both air and road, purchase of vehicles, spare parts and accessories.
Mr. Musepa revealed that annual food inflation rose to 13.7% in November from 13.6% in October 2023, while non-food inflation increased to 11.8% from 11.3% in October 2023.
“Monthly food inflation rose to 0.9% from 0.7% driven by Frozen Fish, Buka Buka, Fresh Kapenta, Dried Bream, Dried Kapenta Mpulungu, Dried Kapenta Siavonga and Vegetables such as Rape, Okra, and Cabbage. Monthly Non-food inflation remained unchanged at 0.9%,” Mr. Musepa explained.

He noted that inflation for November 2023, declined for housing, water, electricity, gas and other fuels.

With regards to provincial inflation, Mr. Musepa said Western province recorded the highest rate at 14.7%, whereas Eastern province had the lowest at 10.2%, with Lusaka at 14.1% from 14.5%.

“A disaggregation of the annual inflation by province shows that annual inflation during the month under review increased for Central to 13.7% from 12.9%, Copperbelt 11.7% from 10.9%, Northwestern 13.0% from 11.9% and Southern Provinces 12.3% from 10.9%.”

“Annual inflation decreased for Eastern to 10.2% from 10.5%, Luapula 13.6% from 13.9%, Lusaka 14.1% from 14.5% Northern 12.8% from13.1% and Western Provinces 14.7% from 14.9%.

Meanwhile, Mr. Musepa dispelled inflation figures attributed to unofficial sources as misleading, urging citizens to get official numbers produced and published by the Agency.

He also advised interested parties to engage the Agency for them to fully understand how different types of statistics are produced.

“Recently, there have been misleading statements in social media and other platforms regarding the rate of inflation in the country. The Agency would like to inform the public that it upholds at all times high standards within its abilities, in its production of statistics strictly guided by international guidelines.”

“This is in conformity to the Statistics Act no. 13 of 2018, which among others, provides for the Agency to give effect to the UN Fundamental Principles of Official Statistics and the Principles of the African Charter on Statistics.” Mr. Musepa stated.

According to Bank of Zambia, inflationary pressures are expected to intensify over the forecast horizon covering the fourth quarter of 2023, to the third quarter of 2025.
Inflation is projected to average 10.9 percent, 11.4 percent and 9.6 percent in 2023, 2024, and 2025 respectively, compared to 10.2 percent in 2023, and 9.3 percent in both 2024 and 2025 reported at the August Monetary Policy Committee (MPC) Meeting.