Recent figures from the figures from the National Statistical Office (NSO) show that food inflation stood at 17.2% in November while non-food inflation was seen at 5.5%. Overall, headline inflation went up 10.4% during the month in review.

Earlier this year, the Reserve Bank of Malawi Governor Dalitso Kabambe presented plans to attain an inflation target of 5% within 2019 and 2021. Remarking that RBM has predicted an inflation rate of 9.5% but resulted into 9.2% instead, Kabambe dared the odds by declaring an expectation of achieving 5% inflation rate by the first quarter of 2021. Towards the end of 2019, headline inflation hit 10.4% but RBM remains positive that their target for the year will be achieved.

RBM spokesperson Mbane Ngwira told The Nation newspaper that average inflation for 2019 to still be in single digit. “This is premised on the fact that during these months, private traders will be offering their stock of maize for sale in market, so too Admarc. We therefore maintain our target of 5% inflation during the first quarter of 2021,” he said. This week, Admarc acting chief executive officer Felix Jumbe revealed that the sum of K10bn has been funded to the firm by the Government, to achieve buying 50 000 metric tonnes (MT) of maize.