The average cost of living for an average family of six in urban and peri-urban areas has increased by 12.9 percent to K694 653 as prices for most basic necessities continue to rise.
This is on account of rising food prices, according to data compiled by Centre for Social Concern (CfSC).
In December, the average cost of living was at K615 138.
The rising cost of living, which paints a grim picture, according to CfSC economic governance officer Agness Nyirongo has mainly been driven by steep increases in the prices of maize, tomatoes and sugar.
This, she said, is suffocating families, particularly those already teetering on the edge of poverty.
Said Nyirongo: “For a Malawian family, struggling to make ends meet on a meagre income, these price hikes represent more than just numbers.
“They represent hunger, missed meals, and the reality that tomorrow’s meal may be out of reach.”
According to Nyirongo, prices of maize, the core meal for most households, have increased by an average of 33 percent, cooking oil by 88.8 percent in Blantyre alone while sugar, a key ingredient not just in households but also for small businesses, has seen price hikes of up to 22 percent.
“If the rising cost of living is not addressed, we risk deepening the divide between the rich and the poor, locking entire communities in cycles of poverty and undermining economic stability in the long-term,” she said.
Malawi’s year-on-year headline inflation rate for January increased to 28.5 percent due to rising food prices, according to published National Statistical Office data.
The previous month, inflation, the gradual loss of purchasing power that is reflected in a broad rise in prices of goods and services over time, was recorded at 28.1 percent.
Consequently, last month, retail maize prices averaged K100 000 per 50 kilogramme (kg) bag.
According to CfSC, maize, which contributes about 53.7 percent to the CPI—an aggregate basket of commodities used to compute inflation, constitutes over 50 percent of daily food intake.
Meanwhile, Consumers Association of Malawi executive director John Kapito said the majority of consumers are struggling, with those not having access to income barely surviving.
He said: “The devaluation of the kwacha raised new economic disorder that is hard to predict.”
Recently, Reserve Bank of Malawi Governor MacDonald Mafuta-Mwale said the central bank sees inflation moderating in 2025 despite prevailing risks.
