BLANTYRE-(MaraviPost)-Prices of commodities and services have increased by an average 58 percent between October 2020 and November 2021, figures from the Consumers Association of Malawi (Cama) have shown.
A statement published by the association indicates that cooking oil tops the list, with prices increasing between 98 percent and 146 percent depending on the brand.
CAMA report further shows that bathing and washing soaps went up by between 45 percent and 70 percent in a year after Lazarus Chakwera became President .
Cama Executive Director John Kapito has since warned that prices of commodities will continue rising as a result of high import costs and the weakening of the Kwacha.
“The prices will continue to rise as the Kwacha continues to be weaker and the continued high global demand against reduced global supply of products as a result of COVID-19 lockdowns which will continue to have a trigger negative effect on global prices such as crude oil and others,” Kapito said.
Malawi University of Business and Applied Sciences-based economist Betchani Tchereni said the manufacturing sector in Malawi is dwarfed by importing raw materials.
“The problem with our manufacturing sector is that there are some things which miss in the value chain,” Tchereni said.
President Chakwera’s Tonse government is failing to fix economy despite petty promises prior to June 23 2020 Presidential elections.