Malawi Inflation Rate Rose to 9.1% in August on Food (Update1)

Malawi's annual inflation rate increased to 9.1 percent in August, the third consecutive monthly rise, as food, beverage and tobacco costs rose, the National Statistics Office said.

Inflation accelerated from 8.7 percent in July, the Zomba- based office said in an e-mailed statement today. Food prices rose after the cost of corn, a staple, increased to $25 per 50- kilogram (110-pound) bag on the open market in August from $19 set by the government at the end of July to curb profiteering.

The southern African nation, which earns more than half its export income from agriculture, is targeting inflation of 6 percent this year.