Mulenga: Falling Inflation Signals Real Relief for Zambian Households

Commerce , Trade and Industry Secretary Chipoka Mulenga says Zambia’s declining inflation rate demonstrates that government policies are translating into real relief for citizens through lower prices and improved living standards.

Annual inflation for February dropped by 1.9 percentage points to 7.5 percent from 9.4 percent in January 2026, a sharp improvement from the 23 percent recorded in previous years. Mulenga described the development as deliberate and strategic. “When you see inflation dropping from 23 to what it is today, it’s not accidental. It’s very methodical and coming through careful planning, implementation and execution of new policies,” he said, crediting the leadership of President Hakainde Hichilema and the government’s “Team Zambia” approach.

He emphasised that economic gains must be felt in ordinary homes. “The benefits of the economy should not only be in black and white, it should be felt in common homes,” Mulenga said, urging businesses to reflect improved conditions in their pricing. “Have confidence — it is sustainable — and just pass on the benefits to the Zambian people.”

Mulenga noted that the Kwacha has strengthened from around K28 to K18.10, lowering the cost of imports and easing pressure on prices. Reduced fuel costs and improved power supply have also made it cheaper to do business. Companies such as Zambia Sugar, Zambeef and Zambia Breweries have already reduced prices.

“With the currency strengthening and the policy rate reduced, prices will not rise the way they were rising — and in many cases, they will start going down,” he said, expressing confidence that sustained reforms will continue reducing the cost of living for Zambians.