Zambia's annual inflation rate fell to 11.9% in October 2025, from 12.3% in September, marking a six-month streak of slowing price growth. It was the lowest reading since August 2023, owing to the kwacha’s continued strength. Food inflation slowed to 14.1% in October from 14.6% in September, while non-food price growth eased to 8.7% from 9%. On a monthly basis, consumer prices increased by 0.4%, after a 0.5% rise in the previous month.