Zambia: Zambia’s Inflation rate for April was recorded at 11.5%y/y - 1.60ppt lower than the March print. The reduction can be attributed to reductions in both food and non-food categories which decelerated from 15.3% to 14.1% and 10.3% to 8.2% respectively over the same period. Inflation is at its lowest level since November 2019 on the back of base effects and currency appreciation which have outweighed rising global energy prices.