Falling maize – Malawi’s staple grain – and non-food itemd prices hs contributed to a drop in Malawi consumer price inflation during April, National Statistical Office (NSO) in Zomba has indicated.
The rate fell by 0.2 percent to 9.7 percent .
Figures published the NSO indicate that food inflation eased by 0.6 percentage points to 10 percent from 10.6 percent in March while non-food inflation eased by 0.8 percentage points to 8.9 percent from 9.u percent the previous months.
Malawi inflation has continued its downward spiral as food prices continue to drop.
The Reserve Bank of Malawi (RBM) and some economic commentators say the continued drop in inflation rate is an indication that the country’s economy is on the right path.
RBM spokesperson Mbane Ngwira said the attainment of single digit inflation will spur savings as people gain confidence in the market knowing that its value will not be eroded by rising inflation.
Inflation – the rate of increase in prices for goods and services – is one of the most important issues in economics.Follow and Subscribe Nyasa TV :