Inflation Drops Again In October

In welcome news for households and businesses across the nation, the Ministry of Finance and National Planning announced Thursday that Zambia's annual inflation has decreased to 11.9% in October, down from 12.3% in September. This positive trend demonstrates that the government's economic interventions are successfully reducing the cost pressures facing ordinary citizens.

According to the Zambia Statistics Agency, General Shalla Mudeende credited the government's strategic policy measures for this encouraging reduction in price movements. The targeted approach has proven particularly effective in controlling non-food inflation, which slowed to 14.1% compared to 14.6% the previous month. Meanwhile, non-food inflation has also shown improvement, dropping to 8.7% from 9%.

Citizens are now benefiting from more stable prices on essential everyday items such as meal-meal, chicken, fish and household necessities including hair plaiting products, personal care items, and kitchenware.

Lower inflation delivers tangible benefits throughout society by protecting household incomes and purchasing power. This stability is especially valuable for farmers, traders, and small businesses, enabling them to plan investments and predict operational costs with greater confidence and accuracy.

The Ministry also announced impressive trade figures, with Zambia's total international trade reaching K 414.2 billion, an 18.1% increase from the same period las year. The export sector showed strength, with road transport accounting for 94% of export value, while imports expanded across vital sectors including copper, agriculture, and manufactured goods.

Together, these developments reflect the government's successful economic stewardship and signal sustained momentum for the country's continued prosperity and growth.