Malawi inflation eases on Comesa HCPI
Malawi’s Common Market for Eastern and Southern Africa (Comesa) annual harmonised inflation rate in December 2018 eased to 10.5 percent down from 10.7 percent in the previous month.
Out of the 15 countries, Malawi’s inflation rate finished the year at position 11, according to Comesa’s December Harmonised Consumer Price Index (HCPI) .
Malawi’s inflation rate was followed by Egypt at 10.7 percent and Ethiopia 11 percent while Sudan recorded the highest in the Comesa trading bloc at 73.7 percent.
According to the report, Burundi recorded the least inflation rate in the region at -2.0 percent followed by Rwanda at -0.6percent, Djibouti 1.1 percent, Mauritius three percent, Uganda 3.9 percent, Seychelles four percent, Swaziland 5.0 percent; Kenya 5.6 percent, Madagascar 6.7 percent, Zambia 7.8 percent and Democratic Republic of Congo eight percent.
The Comesa report comes after the National Statistical Office (NSO) reported that Malawi’s inflation rate for December 2018 eased to 9.9 percent from 10.1 percent in November.
Reacting to the report, Reserve Bank of Malawi (RBM) spokesperson Mbane Ngwira said the difference is due to different weights used.
He, however, said despite the difference, Malawi is on the right track.
“If you can see the trend, inflation rate is decreasing in both Comesa and local figures,” said Ngwira.
The Comesa HCPI comprises 12 expenditure divisions which include food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear; housing, water, electricity and others.
