Zambia’s annual inflation rate surged to a two-year high of 13.7% in March, driven by the country’s worst drought on record. While food inflation reached 15.6%, non-food inflation slowed to 11.2%, attributed to the kwacha’s appreciation. President Hichilema declared the drought a national disaster. Meanwhile, Zambia registered a GDP growth of 8% YoY in Q4 2022, leading to a full-year growth of 5.8%.