Slight improvement in Malawi’s year-on-year inflation rate under the harmonised consumer price index (HCPI) has helped the country to move a step up the ladder as Zambia now has the highest inflation in the Common Market of Eastern and Southern Africa (Comesa) trade bloc.
According to the latest Comesa HCPI released on Tuesday, Zambia recorded the highest inflation rate in the region in January at 27 percent while Zimbabwe recorded the least annual inflation rate of -2.4 percent.
Malawi has been topping the list from June last year when it recorded the highest inflation rate of 23.5 percent after it displaced Sudan which recorded 21.9 percent while Zambia’s inflation rate was at an all time low at 6.2 percent.
However, Malawi still has the high month-on-month inflation rate of 5.4 percent while Seychelles was second at 3.4 percent with Zambia coming third at 3.1 percent.
In an interview on Tuesday, Chancellor College professor of economics Ben Kaluwa said it is possible for Malawi to continue reducing inflation.
“Soon the food prices will be down and the inflation rate will also drop. However the issue is sustainability. How are we going to sustain that?” he queried.