Malawi inflation up 1.1 percentage points to 24.1%
Malawi’s year-on-year headline inflation rate for September 2015 as measured by the consumer price index (CPI) went up 1.1 percentage points to 24.1 percent from the previous month’s 23 percent, according to the National Statistical Office (NSO).
NSO has attributed the jump to the increase in food inflation, which jumped to 27.2 percent in September from 26.8 percent the month before triggered by a maize deficit of about 30.2 percent this year due to floods and dry spells.
The September 2015 inflation rate is 0.4 percentage points higher than the rate registered during the same month in 2014 at 23.7 percent.
In February 2013, the country’s inflation reached an all-time high of 37.9 percent.
Maize, as part of food, accounts for about 50.2 percent in the CPI, an aggregate basket of consumers goods and services.
On the other hand, NSO said non-food inflation also jumped to 21.3 percent in September from 19.9 percent the month before.
“The urban and rural inflation rates stand at 19.6 percent and 27.4 percent respectively,” said the NSO in its Stats Flash.
Last week, Malawi’s inflation rate under the harmonised consumer price index (HCPI) was rated the highest in the Common Market for Eastern and Southern Africa (Comesa) trade bloc.
Bankers Association of Malawi (BAM) president Misheck Esau has described Malawi’s inflation situation as scary to local and foreign investors.
