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Malawi year-on-year headline inflation rate continue to rise as the National Statistical Office (NSO) has said it has now reached 23 per cent in the month of August from 22.2 per cent in the previous month (July) representing a 0.8 per cent increase as measured by Consumer Price Index (CPI).

 

Inflation is the rate of increase in prices over a given period of time. It is typically a broad measure, such as the overall increase in prices or the increase in the cost of living. But it can also be more narrowly calculated--for example, for certain goods, such as food, or for services, such as school fees.

NSO data show that the overall food inflation increased to 26.8 from 25.3 percent while non food inflation increased to 19.9 percent from 19.6 percent.

"The inflation increase was due to general price increase during the period as compared to the same period last year," NSO said.

It added that the urban and rural rates are at 19.5 percent and 26.7 percent respectively.

Inflation in the country is mainly driven by availability of food especially maize.

Inflation reached an all-time high of 37.90 percent in February 2013 and a record low of 6.30 percent in December 2010.

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