BLANTYRE-(MaraviPost)-Malawi’s inflation rate continued its downward trend in May 2025, easing to 23.3% from 24.3% recorded in April, the National Statistical Office [NSO] has revealed.
According to the May 2025 Inflation Report released by NSO, the 1.0 percentage point decline was largely driven by slower increases in food prices, which have been the main driver of inflation over the past year.
Food inflation dropped to 23.3% in May from 25.8% in April, offering relief to households that spend most of their income on food.
“Food inflation continued to ease in May 2025, reflecting improved availability of food items following the main harvest,” NSO stated in the report.
Maize, the country’s staple grain, saw reduced price pressures as markets received fresh supplies from the 2024/2025 farming season.
Non-food inflation, however, remained sticky. The rate edged down slightly to 23.2% in May from 23.3% in April.
Categories such as transport, housing, and utilities continued to exert upward pressure, reflecting the impact of fuel price adjustments and exchange rate fluctuations experienced earlier in the year.
On a month-on-month basis, the Consumer Price Index [CPI] rose by 1.3% in May, slower than the 1.8% recorded in April.
NSO noted that the slower monthly increase was mainly attributed to food, which registered a 1.1% rise compared to 2.1% in April. Non-food items increased by 1.5% month-on-month, up from 1.4% in the previous month.
The latest figures come as the Reserve Bank of Malawi continues to monitor price developments amid efforts to stabilize the economy.
In April, the Bank maintained its policy rate at 26%, citing the need to anchor inflation expectations as food supply improves and global commodity prices remain volatile.
Economists say the decline is a positive signal, but warn that inflation remains well above the government’s medium-term target of 5%. “While the drop is welcome, 23.3% is still high for most Malawians.
The real test will be whether the trend holds as we move toward the lean season,” said an economist based in Lilongwe.
Rural and urban areas both recorded slower inflation, though urban centers continued to experience higher rates due to greater exposure to non-food costs such as rent and transport.
NSO emphasized that inflation data is based on a basket of goods and services consumed by average households, and actual prices may vary depending on location and purchasing patterns.
The May inflation figures provide some breathing space for consumers, but analysts agree that sustained relief will depend on continued food supply stability, exchange rate stability, and prudent fiscal and monetary policies.
