Food prices continue to go up in the country as the inflation rate has hit 25.5 per cent in August due to disruptions of food supply chain because of the effects of covid-19 pandemic and war in Ukraine, according to National Statistical Office (NSO).
NSO’s latest consumer price index shows skyrocketing food inflation now at 33.4 percent as the main driver of headline inflation.
Malawi maize economy driving inflation
It means that inflation, which is the general rise of commodity prices in an economy, has gone up by 0.9 percentage points from 24.6 percent in July.
The Covid-19 pandemic and Ukraine war induced supply chain disruptions resulting in rising prices of oil, wheat and fertilizers which are in turn affecting prices of other commodities as well.
Meanwhile, authorities are projecting that the inflation rate is likely to continue rising to average 23 percent this year.
