INFLATION RATE WORRIES CONSUMERS

The country’s consumers have expressed concern over continued rising of commodity prices which is slowly making life unbearable.

The development comes at a time when National Statistical Office (NSO) announced on Tuesday that the country’s inflation jumped 2.4 percentage points from 23.5 in December to 25.9 percent January.

The January inflation is 0.3 percentage points higher than the 25.6 percent that the Monetary Policy Committee (MPC) predicted that the country’s inflation will hit in February.

NSO said the Urban Inflation surged from 32.5 percent in December 2013 to 37.2 percent in January with rural inflation rocketing from 20 to 24.4 percent.

Ndirande based  Edwini Chimoyo said the rate at which commodity prices are escalating is making life of urban dwellers difficult.

“The price of almost everything is going up. How are we expected to live with these rising prices? I don’t  know who will rescue us from this problem”, he said

Concurring with Chimoyo, Consumer Association of Malawi (CAMA) Executive Director John Kapito said  the rise in inflation had left many Malawians poor than before.

Kapito said many  Malawians can no longer afford the basic necessities they could afford some two years ago.

“Honestly speaking , economy is on the reverse gear”, said Kapito.

The country’s inflation has been on the rise in recent months due to surging food prices as well as the fuel and electricity subsidies.