Food prices drive up Malawi inflation
Blantyre - Malawi's year-on-year (y/y) headline inflation accelerated to 34.6% in December from 33.3% in November, driven mainly by higher food prices, the National Statistical Office said on thursday.
"The increase is emanating from the rise in both food costs at 34.5% compared to 5.2% and core inflation at 34.5% compared to 14.4% y/y," the NSO said.
It said that inflation in southern African countries averaged 21.3% in 2012, 13.7% points higher than 2011.
Finance Minister Ken Lipenga set an inflation target of 18.4% for 2012 in his 2012/13 budget statement.