Figures from the National Statistical Office (NSO) have revealed that Malawi’s headline inflation went down in May to 8.7%, a development that has been attributed to continued declining food prices.

According to the NSO statement, Food inflation rate is at -3.2% compared to -8.4% in April, 2020 while Non-Food Inflation stagnates at 0.1% as it was recorded in April, 2020. Food and Non-Food Inflation rates stand at 13.7% and 4.5% respectively.

Meanwhile, the Reserve Bank of Malawi has maintained  positivity to achieve a 5% inflation target by 2021, mostly attributed to maize; an influx of maize in most traditional markets, following the harvesting season, has contributed to a drop in prices on the market. On the other hand, Malawi was expected to produce about 3,691,866 metric tonnes of maize this season, up from 3,391,924 metric tonnes produced during the 2018/2019 season, representing an 8.8% increase.