Inflation soars to 10.9%

Malawi’s year-on-year headline inflation for February quickened by 0.6 percentage points to settle at 10.9 percent from 10.3 percent in January, the National Statistical Office (NSO) said yesterday.

For two months in a row, inflation seems to have found a comfort zone in double digits, signalling the rising cost of living to record highs that are likely to throw a lot of people into the ultra-poverty trap in which their earnings are less than $0.30 cents (K50) per day.