Malawi inflation rate soars to 9.9 percent

Malawi’s inflation rate rose to 9.9 percent in March from 7.8 percent in February.

The figures released by National Statistical Office (NSO) show that the inflation rate for March is the highest since July, 2017.

“The consumer price inflation in Malawi quickened to 9.9 percent year-on-year in March of 2018 from 7.8 percent in the previous month. It was the highest inflation rate since July last year,” says a statement by the NSO.

According to NSO, on a monthly basis, consumer prices went down 0.9 percent compared to an increase of 2.1 percent in February.

Inflation Rate in Malawi averaged 14.98 percent from 2001 until 2018, reaching an all-time high of 37.90 percent in February of 2013 and a record low of 6.30 percent in December of 2010.

Malawi achieved a single digit inflation last year, which was the first time in six years.