Malawi’s headline consumer inflation quickened to 24.5 percent year-on-year in August, from 22.3 percent in July, partly on higher food, housing and water costs, the National Statistics Office in Zomba said.
According to Reserve Bank of Malawi (RBM) spokesperson Mbane Ngwira, the relatively high Malawi inflation rates is due to different stages in the country’s liberalization process.
Ngwira pointed out that with time Malawi will also enjoy lower inflation rates and that the trend so far indicates that the country is doing very well and will be at par with the other members.
Recently, the Monetary Policy Committee (MPC) which is chaired by the RBM noted that the deceleration in inflation could have been faster had the automatic pricing mechanism for fuel (APM) been implemented consistently.
The committee noted that based on this trend inflation is expected at 20.5 percent in December 2014.Follow and Subscribe Nyasa TV :