Malawi’s year-on-year headline inflation rate for January increased to 28.5 percent due to rising food prices, published National Statistical Office (NSO) data showed yesterday.
Last 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.
However, while food inflation marginally rose by 0.4 percentage points, non-food inflation showed moderation, declining by 0.1 percentage points.
In its January 2025 Consumer Price Index (CPI) report, NSO said: “Food inflation now stands at 36.0 percent from 35.6 percent observed in December 2024 while non-food inflation is at 16.9 percent from 16.8 percent over the same period.”
Consequently, during the review month, retail maize prices increased by 21 percent, averaging K1 283 per kilogramme (kg) in the final week of the month from K1 063 per kg in the last week of December 2024, according to International Food Policy Research Institute (Ifpri) data.
This is 45 percent higher in nominal terms than the last week of January 2024, when maize averaged K887 per kg.
According to the Centre for Social Concern, 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.
As of yesterday, a 50 kg bag was fetching an average of K80 000 in some produce market.
Consumers Association of Malawi executive director John Kapito said the majority of consumers are struggling, with those not having access to income barely surviving.
The government gazetted minimum wage is currently at K3 461.54 per day, translating to K90 000 a month.
A fortnight ago, Reserve Bank of Malawi Governor MacDonald Mafuta-Mwale said the central bank sees inflation moderating in 2025 despite prevailing risks.
