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Zambia’s annual inflation rate for October 2025 has eased to 11.9 percent from 12.3 percent recorded in September, according to the latest monthly bulletin released by the Zambia Statistics Agency (ZamStats).
The country also posted a trade surplus of K0.4 billion in September 2025, down from K3.3 billion recorded in August this year.
Speaking during the monthly bulletin dissemination, Acting Statistician General Sheila Mudenda said the decline in inflation indicated that, on average, prices of goods and services increased by 11.9 percent between October 2024 and October 2025.
“This development was attributed to price movements in both food and non-food items,” Mudenda said.
She explained that annual food inflation for October stood at 14.1 percent, down from 14.6 percent in September, mainly driven by lower price movements in food items such as cereals, fish, frozen chicken, and offals.
Read more: Zambia’s inflation eases to 12.6% as trade surplus falls to K0.4 billion
Non-food inflation also slowed to 8.7 percent from 9.0 percent recorded the previous month.
On provincial contributions to overall inflation, Mudenda said Lusaka Province recorded the highest contribution at 3.6 percentage points, followed by the Copperbelt with 2.6 percentage points.
Central and Southern Provinces contributed 1.3 and 1.1 percentage points respectively, while Luapula and North-Western Provinces had the lowest contributions at 0.5 percentage points each.
Monthly inflation for October was 0.4 percent, compared with 0.5 percent recorded in September.
On trade performance, Mudenda reported that Zambia’s exports of domestically produced goods fell by 4.3 percent, from K29.8 billion in August to K28.5 billion in September.
“Exports mainly comprised domestically produced goods, decreased by 4.3 percent from K29.8 billion in August 2025 to K28.5 billion recorded in September this year,” she said.
The decline was largely attributed to reduced export earnings from intermediate goods (13.3%), consumer goods (18.3%), and capital goods (70.1%).
Meanwhile, imports decreased by 6.3 percent, from K28.5 billion in August to K28.1 billion in September, mainly due to higher import bills for intermediate goods (11.7%), capital goods (16.2%), and consumer goods (0.9%).
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