Malawi hits highest inflation rate in 11 years at 28.8%
Malawi has hit 28.8 percent inflation rate, the highest in 11 years.
This is 7.8 percentage points jump on the annual year on year inflation rate for 2023, according to National Statistics Office (NSO).
The inflation rate was at 21 percent recorded in 2022.
The NSO Consumer Price Index states that this is higher than the 28.2 percent official projection, but better than 29.5 percent earlier forecast.
Meanwhile, December inflation stood at 34.5 percent, an increase from the 33.1 percent recorded in November 2023.
The Annual Food and Non-Food inflation rates are at 37.1 percent and 18.8 percent, respectively –the highest in the last decade.
