Key Inflation Drivers (Latest Data: Dec 2024)
Overall Annual Inflation
16.7%
Price increase of the total consumer basket (Dec 2024).
Food Inflation
18.6%
Often driven by drought, supply shocks, and staple crop prices (e.g., maize).
Non-Food Inflation
14.2%
Often driven by exchange rate depreciation, fuel, and utility costs.
Annual Food vs. Non-Food Inflation (%) (2000-2024)
**Insight:** Food inflation is typically the more volatile component, spiking during periods of drought (e.g., 2015, 2020), while non-food inflation reflects long-term pressures from the Kwacha exchange rate and administered prices (fuel, electricity).
Annual Inflation Component Data
| Year | Overall CPI (%) | Food Inflation (%) | Non-Food Inflation (%) | Major Driver |
|---|
Note: Figures represent End-of-Year Annual Inflation. Source: ZamStats/ZamInvest/IMF Reports.