Zimbabwe and Zambia Report Low Single‑Digit Inflation in July

Zimbabwe's annual inflation measured in the local ZiG currency fell to 3.2% in July, down from 4.7% in June, with month‑on‑month price growth virtually flat at 0.1%. The weighted annual rate, which blends ZiG and US‑dollar prices, also slowed to 3.2%. While US‑dollar inflation rose slightly to 0.3% month‑on‑month, the overall picture shows easing price pressures.

In neighbouring Zambia, annual inflation held at 6.5% in July, unchanged from June and the lowest rate in more than eight years. The slowdown is attributed to a stronger kwacha, which has appreciated roughly 18% against the US dollar in 2026, curbing imported price pressures. Food inflation eased to about 6.4% and non‑food inflation rose modestly, keeping headline inflation within the central bank’s 6%–8% target band and giving policymakers room for potential rate adjustments.