The country’s headline inflation continues to rise as it now sits at 26.7%, according to October figures, pushing the cost of living much further up.
National Statistical Office says at 26.7%, the rate has risen by 0.8% points from 25.9% in September.
John Kapito: More pain ahead
This is as a result of the growing inflation pressure which has kept the cost of living skyrocketing since September last year.
Food and Non-Food Inflation rates are at 34.5% and 18.6% respectively –with the former, being the main driver of the climbing inflation rate.
Rising prices of oil, fertilizer and wheat contributed in setting the pace of inflation trend since the onset of the Ukraine war induced global supply chain disruptions.
Meanwhile, the Reserve Bank of Malawi (RBM) is projecting annual inflation to average 21.5%.
Consumers Association of Malawi (CAMA’s) Executive Director John Kapito has since warned shoppers of the worsening situation ahead.
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One reply on “Malawi inflation balloons to 26.7%”
1. Take up the Japanese Ambassador’s offer to buy all of Malawi’s rice if we can increase production > 20,000 tonnes.
2. Stockpile fuel and sell to the people at low cost to lower domestic inflation.
3. Re-establish and expand ADMARC.
4. Do away with tariffs and establish comprehensive monetary regulation.
5. Establish a three tier education program through schools/colleges, NICE and a re-established Malawi Young Pioneers.
1. Take up the Japanese Ambassador’s offer to buy all of Malawi’s rice if we can increase production > 20,000 tonnes.
2. Stockpile fuel and sell to the people at low cost to lower domestic inflation.
3. Re-establish and expand ADMARC.
4. Do away with tariffs and establish comprehensive monetary regulation.
5. Establish a three tier education program through schools/colleges, NICE and a re-established Malawi Young Pioneers.