LILONGWE (Reuters) - Malawi's headline inflation slowed to 8.0 percent year-on-year in July from 8.4 percent in June on a further easing in food prices, the National Statistical Office (NSO) said on Thursday.
Inflation in the southern African country has been on a downward trend since hitting a two-year peak of 10.1 percent year-on-year in January.
"Although food inflation continues to go down, the rate of deceleration has slowed down, registering 6.9 percent ... compared to 7.1 percent in June," the NSO statement said.
Food inflation is heavily dictated by changes in the price of maize, Malawi's staple food, and accounts for about 58 percent in the country's Consumer Price Index (CPI).
Finance minister Ken Kandodo told Reuters last week that headline inflation is likely to be 9 percent or lower in the coming 12 months due to more stable food prices.
Thursday, 13 August 2009
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