Malawi inflation goes up

BLANTYRE – Rising transport costs pushed Malawi’s annual inflation rate up to 15,9 per cent in June, almost breaking an IMF-set target limit of 16 per cent, the National Statistical Office said yesterday.

The International Monetary Fund, which is considering a new loan package for the impoverished southern African country, has said it wants to see inflation for the full year 2005 come in under 16 per cent. It is holding a board meeting on Malawi on August 5 to decide whether to resume aid suspended in 2003.High international crude oil prices have fed inflation in many economies around the world.In May Malawi’s inflation rate rose by 15,5 per cent, while the increase in June last year was 11,5 per cent.Price changes for other commodity groups were insignificant while food inflation continued to drop, but not by a large margin, it added.- Nampa-ReutersIt is holding a board meeting on Malawi on August 5 to decide whether to resume aid suspended in 2003.High international crude oil prices have fed inflation in many economies around the world.In May Malawi’s inflation rate rose by 15,5 per cent, while the increase in June last year was 11,5 per cent.Price changes for other commodity groups were insignificant while food inflation continued to drop, but not by a large margin, it added. – Nampa-Reuters