The Economics Association of Zambia (EAZ) Board of Directors has congratulated the Government on achieving single-digit inflation in January 2026, describing it as a national milestone in price stability.
In a press statement dated 11th February 2026, the Board noted that this marks a decisive policy victory after several years of elevated inflationary pressures.
The Board highlighted that the outcome reflects strong political will at the highest levels of Government, disciplined fiscal management by the Treasury, and consistent monetary policy by the Bank of Zambia.
The Board recognised the Bank of Zambia for its disciplined approach in anchoring inflation expectations through transparent communication, data-driven policy actions, and strengthened confidence in financial markets.
The Board observed that the Ministry of Finance and National Planning deserves commendation for maintaining fiscal restraint and prioritising macroeconomic stability, creating the environment necessary for reducing inflation.
The Board also acknowledged contributions from private sector actors, civil society, cooperating partners, and the general public whose collective efforts supported the path to stability.
The Board cautioned that while attaining single-digit inflation is an important milestone, maintaining it will require vigilance against supply-side shocks, fiscal slippages, and external vulnerabilities.
The Board emphasised that sustaining low and stable inflation will depend on structural reforms, investment in productive capacity, and enhanced competitiveness across sectors.
The Board reaffirmed its commitment to offering independent economic insights, open dialogue, and policy advocacy to entrench price stability as a pillar of national development.
The Board encouraged Government to prioritise sustained economic growth, strengthen productivity and value addition in key sectors, and maintain a policy environment conducive to inflation in the range of 6–8 percent by 2030.
The Board underscored that a growing economy anchored on predictable and moderate inflation will enhance household welfare, attract investment, promote job creation, and ensure lasting resilience.