Cost of living up in January
A household of six people required K356,108 to afford basic needs in January 2023, a study by the Centre for Social Concern (CfSC) has revealed.
This is a K27,586 increase from December 2022, when the cost of living per household of six was at K328,522.
CfSC Programmes Coordinator responsible for economic governance Bernard Mphepo said the main driver of the increase is the rise in prices of food items such as maize.
He said if nothing is done to contain the pressure, the cost of living will continue to rise, affecting most consumers.
“The immediate solution is that the government should reopen Admarc and equip it to stabilise prices of maize. But the long-term solution is to make sure that people in the country have enough food,” he said.
Minister of Information Moses Kunkuyu said the government acknowledges that the cost of living has been increasing lately but it has strategies in place to minimise the effect on Malawians.
Kunkuyu said such strategies include continuing with social cash transfer programmes and the Affordable Inputs Programme which aims at making the country food secure.
“We are also putting some measures which will be announced in the budget that will see people having more disposable income to manage rising prices of goods and services,” he said.
Maize prices remained on an upward spiral.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.
