Kapito laughs off 1 % Malawi inflation drop

Consumers Association of Malawi executive director John Kapito has laughed off reports that inflation rate has dropped by one per cent.

The central bank, the Reserve Bank of Malawi has announced the drop in inflation from 24 per cent to 23 per cent.

“That is funny. That is childish,” said the CAMA boss.

“ Is it a statistical inflation rate or just political,” Kapito said.

He said the situation on the ground remains pathetic as ordinary poor Malawians are struggling to make ends meet because of the high cost of living.

Malawi is reeling from the worst economy in recent memory coupled by acute shortages of the stapple food, maize.

Kapito dismissed the Reserve Bank inflation figures as “cooked up” as they are not reflecting the situation on the ground.