Malawi’s inflation rate has dropped further to 15.8% from 16.1%, according to Nico Assets managers. The inflation rate hovered at 21.5% in May 2016 and rose as high as 23.5% in July 2016. However, as the inflation —a monster that eats into the majority of people’s disposable income—keeps on dropping, the prices of essential […]
Prices of basic commodities including that of bread, sugar and cooking oil continue to go up in the country. A snap survey by Nyasa Times show that a packet of sugar has gone up to K900 from K800 whilst the prices of bread and cooking oil have gone up by an average of 30 per […]
An International Monetary Fund (IMF) mission as met Finance, Economic Planning and Development Minister Goodall Gondwe and Reserve Bank governor Charles Chuka where they have expressed concern over the rising inflation and bank interest rates. Treasury spokesperson Nations Msowoya said the IMF technical team, apart from looking into how the government has performed in the […]
Minister of Finance, Economic Planning and Development, Goodall Gondwe has conceded that Malawi is facing economic turmoil following food shortage. Gondwe said his projection of the economy to rebound from a growth rate of 3.1 percent in 2015 to 5.1 percent in 2016 has failed. “Growth of economy has been stunted very highly by three percent,” […]
Malawi inflation rate rose tp 323.5 percent in july 2015, a 0.9 percentage points from the previous month’s of 22.6 percent, according to the National Statistical Office (NSO) in Zomba has said. The rise of inflation -as measured by the Consumer Prices Index – rhas been attributed due to the increase in food inflation which […]
Persistent high inflation is a serious “crime against humanity” that an insensitive and uncaring government can inflict on its own people. When inflation remains stubbornly high over a long period, even those that are financially prudent and save money diligently become victims of a “bureaucratic robbery”. Inflation is the rate at which the general level […]
Consumers Association of Malawi executive director John Kapito has laughed off reports that inflation rate has dropped by one per cent. The central bank, the Reserve Bank of Malawi has announced the drop in inflation from 24 per cent to 23 per cent. “That is funny. That is childish,” said the CAMA boss. “ Is […]
Economic woes dominated daily newspaper headlines in Malawi on Wednesday. “Inflation leaves Malawians hopeless” and “Mapeto retrenches 300 employees” were the respective headlines on the front page of the flagship The Daily Times newspaper. The paper reports about 300 job cuts at the biggest textile making manufacturer in the country, Mapeto DWS, formerly known as […]
Malawians will continue dipping deeper in their pockets to pay for electricity as Malawi Energy Regulatory Authority (Mera) has effected a tariff hike to K57.07 (about $0.10) from the current K53.69 (about $0.08) per kilowatt-hour. This raise represents a 7. 5 percent according to the energy regulator. According to a statement signed by Mera board […]
Mangochi Catholic Diocese Bishop Montfort Stima has hailed the multi-million Millennium Challenge Account Malawi supported environmental management project being implemented in the district, saying it would go a long way in mitigating the global problem of climate change. Stima was speaking on Saturday when the Catholic Commission for Justice and Peace briefed him on the […]
Life is becoming tougher by the day for ordinary Malawians in the face of escalating prices of essential goods and services and economics have urged the Peter Mutharika administration to deal with the rising cost of living. According to figures from National Statistical Office (NSO), the Malawi’s inflation —the rate at which prices of goods […]
Reducing inflation is the most important policy issue for Malawi in the near term, the IMF said in its recent review of the country’s economy. The report shows currency depreciation and uncertainty about the future direction of policies have kept inflation above 20 percent on average. The economy, heavily dependent on aid flows, is still […]
Malawi’s National Statistical Office (NSO) said Monday that the country’s year-on-year headline inflation rate for the month of September increased by 1.1 percentage points to 24.1 percent from the previous month’s 23 percent. The country’s inflation rate is measured by the consumer price index. The NSO attributed the jump to an increase in food inflation, […]
Beer lovers will be paying more when they head to the bar from October 1, 2015 after Carlsberg Malawi Limited revealed price increases. Carlsberg Malawi has increased prices of its alcoholic and non-alcoholic beverages between 12 percent and 18 percent. The increase on soft drinks is between 12% to 25 %. Imbibers will have to dig […]
Malawi year-on-year headline inflation rate continue to rise as the National Statistical Office (NSO) has said it has now reached 23 per cent in the month of August from 22.2 per cent in the previous month (July) representing a 0.8 per cent increase as measured by Consumer Price Index (CPI). Inflation is the rate of […]
Malawi’s year-on-year headline inflation rate for June 2015 has risen by 1.8 percentage points to 21.3 percent from 19.5 percent in May 2015, signalling that the poor southern African country is struggling to keep its economy functioning normally without aid. Inflation is the rate of increase in prices over a given period of time. It […]
Indications of a precarious economic situation on the ground continue to show with the country’s currency, the Kwacha facing steep depreciation as some foreign exchange bureaus and commercial banks selling the greenback at K530 this week against the globally strong U.S. currency. Reports indicate the Kwacha is at risk of renewed weakness after it sharply […]
The International Monetary Fund has said after it resolved to immediately disburse about $18.1 million (K7.6 billion) to Malawi, one of Africa’s poorest economies , that new government of President Peter Mutharika has committed to rebuild trust in public institutions after the 2013 cashgate scandal saw the country losing about K20 billion r of public […]