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(NYASATIMES) Malawi inflation slows, led by food

Malawi inflation slows, led by food
By Nyasa Times
Published: October 19, 2009

Malawi’s headline inflation slowed to 7.5 percent year-on-year in September from 7.8 percent in August as food inflation continued to ease, the National Statistical Office (NSO) said on Monday.

“Food inflation declined from 6.7 percent in August to 6.4 percent in September and non-food inflation has also maintained its downward trend, settling at 8.6 percent during the same period,” NSO commissioner of statistics Charles Machinjiri said.

Inflation in the southern African nation has been slowing since hitting a two year peak of 10.1 percent year-on-year in January this year.

Finance Minister Ken Kandodo (pictured) said in August monetary policy should continue to focus on reducing inflation, which he said was likely to be 9 percent or lower in the coming 12 months due to stable food prices.

Food inflation, heavily dictated by changes in the price of maize — the staple food in Malawi — accounts for about 58 percent of the country’s consumer price index.–Reuters

Labels: FOOD, INFLATION

posted by MrK @ 5:01 PM