THE year 2026 has begun on a positive note for Zambia. Just over a week ago, the nation celebrated a milestone in the education sector, achieving a 70 percent pass rate at Grade 12 level.
And yesterday the Zambia Statistics Agency (ZamStats) reported that the country’s inflation has dropped to a single digit, standing at 9.4 percent compared to 11.2 percent last month.
Inflation, simply defined, is the rate at which the general level of prices for goods and services rises, eroding the purchasing power of money. When inflation is high, families struggle to afford basics such as food, fuel and transport. When it moderates, as it has now, households breathe easier, businesses plan with more confidence, and the economy gains stability.
ZamStats attributes the moderation to slower price increases in both food and non-food items. Annual food inflation fell to 10.9 percent in January 2026, down from 12.9 percent in December 2025, driven by reductions in the prices of cereals, fruits, vegetables and cooking oil. Non-food inflation also eased, dropping to 7.3 percent from 8.7 percent, thanks to lower costs in fuel, passenger air transport, and motor vehicles.
These figures matter because they touch the daily lives of ordinary Zambians. The rate of inflation may mean the difference between a family’s ability to meet its needs or being forced into hardship. The fact that prices of staples such as breakfast mealie meal, roller mealie meal and maize grain have fallen significantly compared to last year—by 15.81 percent, 21.82 percent, and 23.94 percent respectively—shows that the benefits of economic stability are reaching households.
The Government deserves commendation for its steadfast commitment to economic management. Achieving single-digit inflation is no small feat, especially in a global environment marked by volatility in fuel prices, supply chain disruptions, and climate-related shocks to food production. The political will to prioritise education, agriculture and energy stability while maintaining fiscal discipline has created the conditions for inflation to ease.
The target range of six to eight percent set by Government is ambitious but realistic. Moving closer to this benchmark signals
to investors and development partners that the economy is on a path of stability. This restored confidence is already reflected in trade figures: total trade rose by 13 percent in 2025, reaching K663.7 billion, with exports valued at K333.4 billion and a trade surplus of K1 billion recorded in December. Such outcomes reinforce the narrative of a country that is not only managing inflation but also expanding its productive base.
Yet Government action alone cannot explain this success. The resilience of the Zambian people has been central. Farmers have continued to produce under challenging conditions, ensuring that markets are supplied with maize, vegetables and fruits.
Traders and transporters have played their part in ensuring goods reach consumers efficiently.
Consumers themselves deserve praise for their patience and discipline.
The breaking down of inflation across provinces tells another story of shared effort. While Lusaka and Western provinces recorded the highest annual rates at 12.2 percent, Luapula stood out with the lowest at 4.4 percent.
This variation underscores the importance of localised strategies in tackling inflation. It also brings out the need for continued investment in rural economies, where resilience can be built through agriculture, small-scale trade, and community-driven initiatives.
The achievement of a 9.4 percent inflation rate should be celebrated, but it must also serve as a reminder that economic management is a continuous process. Monthly food prices still rose by 0.9 percent in January, driven by cereals, meat, and eggs. This shows that vulnerabilities remain, particularly in food supply chains.
Sustaining the downward trend will require vigilance, investment in agriculture, and continued stability in fuel and transport costs.
The challenge now is to make single-digit inflation a permanent feature of Zambia’s economy rather than a temporary milestone. This requires strengthening production capacity, diversifying exports, and ensuring that trade surpluses translate into tangible benefits for citizens. It also means maintaining the delicate balance between fiscal discipline and social investment so that economic stability does not come at the expense of human development.
What is clear is that Zambia is on the rise. The drop in the annual rate of inflation to a single-digit figure is just one among many indicators of national progress. For now, Zambians can take pride in this milestone, knowing that their country is back on the path towards prosperity.
Zambia on the rise
THE year 2026 has begun on a positive note for Zambia. Just over a week ago, the nation celebrated a milestone in the education sector, achieving a 70 percent pass rate at Grade 12 level.
And yesterday the Zambia Statistics Agency (ZamStats) reported that the country’s inflation has dropped to a single digit, standing at 9.4 percent compared to 11.2 percent last month.
Inflation, simply defined, is the rate at which the general level of prices for goods and services rises, eroding the purchasing power of money. When inflation is high, families struggle to afford basics such as food, fuel and transport. When it moderates, as it has now, households breathe easier, businesses plan with more confidence, and the economy gains stability.
ZamStats attributes the moderation to slower price increases in both food and non-food items. Annual food inflation fell to 10.9 percent in January 2026, down from 12.9 percent in December 2025, driven by reductions in the prices of cereals, fruits, vegetables and cooking oil. Non-food inflation also eased, dropping to 7.3 percent from 8.7 percent, thanks to lower costs in fuel, passenger air transport, and motor vehicles.
These figures matter because they touch the daily lives of ordinary Zambians. The rate of inflation may mean the difference between a family’s ability to meet its needs or being forced into hardship. The fact that prices of staples such as breakfast mealie meal, roller mealie meal and maize grain have fallen significantly compared to last year—by 15.81 percent, 21.82 percent, and 23.94 percent respectively—shows that the benefits of economic stability are reaching households.
The Government deserves commendation for its steadfast commitment to economic management. Achieving single-digit inflation is no small feat, especially in a global environment marked by volatility in fuel prices, supply chain disruptions, and climate-related shocks to food production. The political will to prioritise education, agriculture and energy stability while maintaining fiscal discipline has created the conditions for inflation to ease.
The target range of six to eight percent set by Government is ambitious but realistic. Moving closer to this benchmark signals
to investors and development partners that the economy is on a path of stability. This restored confidence is already reflected in trade figures: total trade rose by 13 percent in 2025, reaching K663.7 billion, with exports valued at K333.4 billion and a trade surplus of K1 billion recorded in December. Such outcomes reinforce the narrative of a country that is not only managing inflation but also expanding its productive base.
Yet Government action alone cannot explain this success. The resilience of the Zambian people has been central. Farmers have continued to produce under challenging conditions, ensuring that markets are supplied with maize, vegetables and fruits.
Traders and transporters have played their part in ensuring goods reach consumers efficiently.
Consumers themselves deserve praise for their patience and discipline.
The breaking down of inflation across provinces tells another story of shared effort. While Lusaka and Western provinces recorded the highest annual rates at 12.2 percent, Luapula stood out with the lowest at 4.4 percent.
This variation underscores the importance of localised strategies in tackling inflation. It also brings out the need for continued investment in rural economies, where resilience can be built through agriculture, small-scale trade, and community-driven initiatives.
The achievement of a 9.4 percent inflation rate should be celebrated, but it must also serve as a reminder that economic management is a continuous process. Monthly food prices still rose by 0.9 percent in January, driven by cereals, meat, and eggs. This shows that vulnerabilities remain, particularly in food supply chains.
Sustaining the downward trend will require vigilance, investment in agriculture, and continued stability in fuel and transport costs.
The challenge now is to make single-digit inflation a permanent feature of Zambia’s economy rather than a temporary milestone. This requires strengthening production capacity, diversifying exports, and ensuring that trade surpluses translate into tangible benefits for citizens. It also means maintaining the delicate balance between fiscal discipline and social investment so that economic stability does not come at the expense of human development.
What is clear is that Zambia is on the rise. The drop in the annual rate of inflation to a single-digit figure is just one among many indicators of national progress. For now, Zambians can take pride in this milestone, knowing that their country is back on the path towards prosperity.