Malawi’s year-on-year inflation rate eased to 24.1 percent in February 2026, down from 24.9 percent recorded in January 2026, representing a 0.8 percentage point decline.
This is according to the Consumer Price Indices report released yesterday by the National Statistical Office.
Inflation refers to the general rise in prices of goods and services over time, which erodes the purchasing power of money. When inflation is high, the same amount of money buys fewer goods than before.
For ordinary Malawians, this means salaries and wages stretch less far, making it harder to afford basic necessities such as food, transport, rent and household supplies.
The report indicates that food inflation declined to 20.8 percent in February, down from 22.1 percent in January, while non-food inflation rose marginally to 30 percent from 29.8 percent over the same period.
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At the national level, the month-to-month inflation rate for February stood at 3.2 percent, with food prices rising by 3.1 percent and non-food inflation at 3.3 percent.
“In urban areas, the month-to-month inflation rate was 1.4 percent, with food and non-food inflation at 1.5 percent and 1.2 percent respectively. The rural month-to-month inflation rate was 4.1 percent, while rural food and non-food inflation stood at 3.8 percent and 4.6 percent respectively,” the report reads.
Despite the modest easing, economists and monetary authorities warn that the battle against inflation is far from over.
Speaking at the recent Monetary Policy Technical Forum in Blantyre, Economics Association of Malawi Executive Director Esmie Kanyumbu cautioned against premature optimism.
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Kanyumbu said while food inflation was expected to ease on the back of favourable rainfall and government interventions, non-food inflation remained elevated, largely driven by persistent foreign exchange shortages.
“Despite the recent moderation in inflation, the expectation that inflation will decline to single digits is still not there. Our target for inflation in Malawi is five percent. Our projection for 2026 remains at 24.8 percent, meaning the fight against inflation is not over.
“In the short term, these shortages are likely to continue exerting pressure on import prices, thereby sustaining both food and non-food inflation,” she said.
