Malawi records highest inflation rate in 11 years
Malawi’s current headline inflation stands at a record high of 28.8%, the Nyasa Times reported.
This figure is the highest the country has recorded in the last 11 years, marking a 7.8%-point jump on the annual year-on-year inflation rate for 2023 according to the National Statistics Office (NSO).
Nyasa Times reported that the 2022 inflation figures were 21%. According to the NSO Consumer Price Index, the current 28.8% is an increase from the 28.2% official projection but better than the 29.5% earlier forecast.
In December 2023, Malawi’s inflation stood at 34.5%, 1.4% higher than the 33.1% recorded a month before.
The Annual Food and Non-Food inflation rates are also the highest in the last decade the report added, standing at 37.1% and 18.8% respectively.
