Inflation Malawi 2024
Average inflation: 32.3%
Current Inflation
Inflation is very high at 32.3%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 35.0%. The lowest inflation was in November at 27.0%.
- Highest month
- January: 35.0%
- Lowest month
- November: 27.0%
- Difference
- 8.0 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 40.4%. The lowest price increase was in Energy with an average of 25.1%.
- Highest increase
- Food: 40.4%
- Lowest increase
- Energy: 25.1%
Historical Context
Current inflation is 12.3% higher than the 5-year average of 20.0%. This approaches the highest level since records began (32.3% in 2024).
- 5-year average
- 20%
- 10-year average
- 18.2%
- All-time high (2024)
- 32.3%
- All-time low (2020)
- 8.6%
Trend
Inflation shows an upward trend. Compared to 2023, inflation has risen by +3.6 percentage point.
- Change vs. previous year
- +3.6 percentage points
- Largest monthly swing
- January: +9.1 percentage points
ECB Target
Inflation is 30.3% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €132.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 35.0% | +9.1 |
| February | 33.5% | +6.8 |
| March | 31.8% | +4.8 |
| April | 32.3% | +3.5 |
| May | 32.8% | +3.6 |
| June | 33.4% | +6.1 |
| July | 33.7% | +5.4 |
| August | 33.8% | +5.2 |
| September | 34.3% | +6.5 |
| October | 32.4% | +5.5 |
| November | 27.0% | -6.2 |
| December | 28.1% | -6.4 |
| Average | 32.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.