Friday, February 3, 2023
HomeBusinessChakwera's doomed Canaan as inflation hits 26.7%

Chakwera’s doomed Canaan as inflation hits 26.7%

Malawi’s October, headline inflation hits 26.7 percent

BLANTYRE-(MaraviPost)-President Lazarus Chakwera’s Tonse administration is far much from the promised Canaan.

It has been revealed that Malawi’s October, 2022 Headline inflation rate (year on year) has reached 26.7 percent, the highest figure in 9 years.

This has been confirmed in a report by National Statistical Office (NSO).

The report also reveals that food and non-food inflation rates are at 34. 5 and 18.6 percent, respectively.

This means that Malawians will continue face rising prices of commodities, especially food.

The rising inflation is despite the Reserve Bank of Malawi (RBM) taking two stances of Policy Rate tightening this year alone.

The last time inflation reached this high was during former President Joyce Banda’s administration in June 2013.

Generally, headline inflation rate refers to the rate of change in the Consumer Price Index (CPI), a measure of the average price of a standard basket of goods and services consumed by a typical family.

In Malawi, the headline inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods.

Chakwera is unable to fix self-made economic mess characterised by high cost of living, forex, drugs, fuel shortages two years in power.

The Maravi Post has over one billion views since its inception in December of 2009. Viewed in over 100 countries Follow US: Twitter @maravipost Facebook Page : maravipost Instagram: maravipost    
Chisomo Phiri
Chisomo Phirihttp://www.maravipost.com
I am an experienced young journalist who writes for Malawi's major print and online publications. I currently work for The Maravi Post (www.maravipost.com), one of the Malawi's fastest growing Online Newspapers as a National Reporter. I am interested in environmental, science and innovation, Education and human rights reporting
RELATED ARTICLES

Most Popular

Recent Comments

The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?
Muhindo Isevahani on The Cold War Against TB Joshua
JCON/SCOAN/BKN(888/8885/8808) on The Cold War Against TB Joshua
Keen Observer on Jesse Kabwila, Then and Now
Francesco Sinibaldi on Advertising in 2020 and beyond