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Food prices drive up Malawi inflation

Jan 24 2013 19:20 Reuters
Joyce Banda

(Picture: AFP)

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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.
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