Malawi inflation rate down to 8.3

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The country’s inflation rate has dropped to 8.3 percent from 8.4 percent, latest statistics show.

Figures released on Wednesday by the National Statistical Office (NSO) show a 0.1 percent decrease in inflation as measured by the Consumer Price Index (CPI).

It is believed that inflation has fell by a small value due to the increase in non-food inflation from 11.6 percent in September to 11.7 percent in October.

During the same period last year Malawi’s inflation rate was 20.1 percent.

The country’s inflation rate only reached single digit in August this year which was the first time in six years.

Economic experts earlier said that the continued drop of the inflation rate will reduce the speed of the rise in commodity prices.