Average annual inflation in Malawi soars to 25.5%, exacerbated by rising food and non-food prices.

Data released by the National Statistics Office of Malawi, indicate that compared to the same period last year, the inflation rate recorded an increase of 17 %.

The figures show that food inflation rose by 33.4%, while non-food inflation rose to 18.2 % In the taste of this year.

The prices of food and non-food products continue to rise, a fact that will further aggravate the economic difficulties of ordinary people.

Inflation is expected to remain high due to the possibility of further food and energy price shocks and subsequent monetary policy tightening.

A combination of these events would result in a recession accompanied by high and rising inflation.

Malawi's central bank, through its recent Monetary Policy Committee, said it is monitoring inflation developments and is ready to adjust the key interest rate if inflationary pressures persist.(RM)