Malawi's 2024 Inflation Rate Climbs to 32.2 Percent

Economic expert Ryan Kabambe blamed the inflation surge on government's failure to invest in forex-generating sectors.

LILONGWE, Malawi—Malawi's annual inflation rate rose to 32.2 percent in 2024, up from 28.8 percent in 2023, according to the latest National Statistical Office (NSO) report, writes Benson Kamonjola.

The report, published on NSO's website, shows food inflation surged to 42.2 percent from 37.1 percent in 2023, while non-food inflation increased to 21.2 percent from 18.8 percent.

Year-on-Year inflation for December 2024 reached 28.1 percent, climbing from November's 27.0 percent.

Food inflation in December stood at 35.6 percent, up from November's 33.7 percent, while non-food inflation slightly decreased to 16.8 percent from 17.2 percent.

The country's inflation rate continues to be heavily influenced by food prices and foreign exchange availability, the report noted.

Economic expert Ryan Kabambe blamed the inflation surge on government's failure to invest in forex-generating sectors.

"If the country can do serious investment in areas that aim at increasing forex generation, we can change this continuous increase in inflation," Kabambe said.

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