The cost of living for a family of six in an urban setting rose marginally to K452,480 in the month of November, latest figures from the Employers Consultative Association of Malawi (Ecam) show.
This represents a 0.5 percent rise when compared to the K450,144 recorded in October.
However, the cost of living has risen by 51 percent from K299,590.
Ecam Executive Director George Khaki confirmed the development.
He said the analysis is more comprehensive as it takes into consideration other parameters such as transport cost.
“The cost of living in November 2022 went slightly up and this, among other things, is attributed to the rise in the cost of maize. Fuel shortages also pushed up costs as the scarcity of fuel pushed transport prices up. This was expected as we entered into the lean season.
“This accounts for the slight increase that we have experienced in the economy. We expect food inflation and headline inflation to continue increasing in the next few months until maize matures in the fields,” Khaki said.
Consumers Association of Malawi Executive Director John Kapito said, essentially, the entire performance of the economy has impacted negatively on people’s disposable incomes.
“The economy in 2022 has gone through one of the worst challenges ever experienced in the country; inflation has been rising high into double digits, the Kwacha has weakened sharply and this had a negative effect on disposable income at a time when cost of living is too high, unemployment is too high,” Kapito said.
Earlier this year, the Malawi Congress of Trade Unions started pushing for a 75 percent hike in minimum wage to cushion workers from the rising cost of living.
They were proposing to move the earning to K87 000 per month from the current K50,000 a month.
