Malawi inflation slows slightly to 22.5 pct -NSO
The National Statistics Office in Zomba has released data showing Malawi’s consumer inflation slowed slightly to 22.5 percent year-on-year in June from 22.6 percent in May.
In the 2013/14 budget statement government expected that inflation would slow down to 14.2 percent by December 2013 and to seven percent by December 2014 arguing the economy was recovering.
In the wake of an aid freeze of about $150 million (about K60 billion ) in budget support by Malawi’s major donors in November last year, the Reserve Bank of Malawi (RBM) said it will tighten monetary policy to control inflation.
Following a ten-day mission to Malawi, which concluded on July 15, the IMF projected that economic growth in Malawi this year was likely to remain in a broad range of 5% to 6% of gross domestic product, with strong contributions from the agriculture, information and communications, and wholesale and retail trade sectors.
