High Interest Rates remain, Inflation down

The latest figures from the economy at Lake Malawi are little encouraging. Malawi’s central bank kept its benchmark lending rate unchanged at 27% saying it would continue to monitor food inflation and economic growth in the midst of a severe drought that has ravaged its key agriculture sector. The bank said that while inflation had come down in recent months, this was mainly due to non-food inflation, and that risks to consumer prices remained on the upside.

On a good note Malawi’s consumer inflation slowed to 22.1% year-on-year in March from 23.4% in February, but remains at elevated levels which the government is keen to bring down.

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