Inflation rate in Zambia has since 2020 witnessed a sharp nose dive from 22.4 per cent in the third quarter of 2021 financial year to a single digit figure of percentage in the second quarter of 2022 financial year. There has been fierce debates lately of the paradox that has existed between high food basket cost and the sharp decrease in the rate of inflation. Concisely discuss the current observed Zambian scenario using standard economic underpinnings based on the Bank of Zambia strategy as a nominal anchor in monetary policy in the light of: a. Exchange rate targeting b. Monetary targeting c. Inflation targeting