The Reserve Bank of Malawi (RBM) has indicated that it expects the country’s inflation to drop in the coming months.
Speaking in an interview, RBM Deputy Governor for Economics, Macdonald Mafuta Mwale, stated that the Central Bank is actively addressing inflationary pressures and is committed to ensuring that inflation trends downward.
Mafuta Mwale emphasized that the RBM is working diligently in coordination with the Ministry of Finance and the Ministry of Agriculture, implementing a coordinated action plan to contain inflation within expected levels.
In September, Malawi’s headline inflation rose to 34.3 percent from 33.9 percent in August.
However, Mafuta Mwale noted that the RBM’s efforts, such as maintaining a tight monetary policy and conducting open market operations, have helped mitigate the impact of rising food prices on non-food inflation, which has remained steady at around 22 percent.
(Reported by Taonga Sabola)
