Malawi inflations quickens to 25.5 %, highest in Sadc

Malawi’s consumer inflation quickened to 25.5 percent in August from 21.7 percent in July, data released by the National Statistical Office showed Monday.

Inflation quickened on every month since June 2011, when it remained unchanged at 7 percent.

According to the data, inflation in the urban and rural area were 28.2 percent and 23.8 percent respectively during the month.

Tseka: To reverse the trend

Contributing to the latest acceleration in the headline inflation, food prices climbed 26 percent in August compared to last year.

At the same time, core consumer prices, excluding food and energy, advanced 25.1 percent on an annual basis, NSO said.

Reserve Bank of Malawi (RBM) spokesperson Ralph Tseka said the  central bank is aware of high inflationary pressure in the economy and that RBM is “still pursuing tight monetary policy” to reverse the trend.

Malawi inflation rate is reported to  the highest in the Southern Africa Development Community (Sadc).

The country over the past years enjoyed single-digit inflation rates.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From the World

More From Nyasatimes