Malawi Inflation Rate Accelerates

The annual inflation rate in Malawi slowed for the fourth consecutive month to 20.0% in August 2026, down from 20.8% in the previous month. It was the lowest inflation rate since May 2022, as both food and non-food inflation eased. Food inflation, which continues to be the main driver of inflation in Malawi, eased to 13.4% in August from 14.3% in July, marking the softest increase since November 2021, particularly as prices of cereals such as rice, maize, and maize flour moderated. Non-food inflation also slowed to 31.8% from 32.2%, with charcoal and firewood prices under housing, water, and electricity contributing to the increase. On a monthly basis, consumer prices rose by 2.0%, the same pace as in July, remaining the fastest increase in six months.

The annual inflation rate in Malawi eased to 23.4% in May 2026, down from 24.3% in April. Food costs, which continue to be the main driver of inflation in Malawi, eased to 17.6% from 19.1% in the previous month, particularly cereals such as rice, maize, and maize flour, moderated. Non-food prices increased by 33%, from 33.2%, with upward price pressures from housing and utilities and transportations. On a monthly basis, consumer prices declined by 0.2% after a 2.9% drop in April.

Malawi's annual inflation rate accelerated to 24.3% in April 2026, up from 23.8% in March. This marks the highest level in three months, as non-food inflation rose to a record high of 33.2%, from 30.7% in March, due to higher petrol and diesel prices and reflecting higher costs in transports and housing and utilities. In contrast, food inflation eased to 19.1% from 20%. On a monthly basis, consumer prices rose declined 2.5%, reversing a 0.6% increase in the previous month.