Malawi Inflation Balloons to 26.7%

23 November 2022
Nyasa Times (Leeds)
By Naomi Mkwanda

The country's headline inflation continues to rise as it now sits at 26.7%, according to October figures, pushing the cost of living much further up.

National Statistical Office says at 26.7%, the rate has risen by 0.8% points from 25.9% in September.

This is as a result of the growing inflation pressure which has kept the cost of living skyrocketing since September last year.

Food and Non-Food Inflation rates are at 34.5% and 18.6% respectively -with the former, being the main driver of the climbing inflation rate.

Rising prices of oil, fertilizer and wheat contributed in setting the pace of inflation trend since the onset of the Ukraine war induced global supply chain disruptions.

Meanwhile, the Reserve Bank of Malawi (RBM) is projecting annual inflation to average 21.5%.

Consumers Association of Malawi (CAMA's) Executive Director John Kapito has since warned shoppers of the worsening situation ahead.

Read the original article on Nyasa Times.

Tagged:
Copyright © 2022 Nyasa Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.