Zambia's Inflation Rate at 6.6% Amid Ongoing Economic Challenges

TLDR

• When he took office in 2021, Zambia was in debt distress and had been failing to make its payments.
• Annual inflation has cooled to around 6.6%, its lowest in eight years, and the currency, the kwacha, has strengthened, but for many households the relief remains theoretical.
• Macroeconomic gains matter less than the cost of cooking oil, for example, which has risen by more than 70% over the past five years.
• The unemployment rate as measured by the statistics agency has registered a slight fall from 13% to 11% over the last four years.
• This accelerated the consolidation of a split opposition around Mundubile, a 55-year-old lawyer, accountant and former government chief whip under Lungu.