Zambia's annual inflation rate decelerated further to 10.9% in November 2025, the lowest since August 2023, from 11.9% in the prior month. This marks the seventh consecutive period of slowing price-growth, largely due to a stronger kwacha. Food inflation eased to 13.9% in November, down from 14.1% in October, while non-food price growth slowed to 6.6% from 8.7%. On a monthly basis, the CPI rose by 0.7% in November, the most in seven months, after a 0.4% increase in the previous month.