The Economics Association of Malawi (Ecama) has said it expects inflation to continue lowering in the coming months, estimating it to be at 8.9% by December 2019. On the other hand, Reserve Bank of Malawi (RBM) says the recent trends on maize market will see a downward inflation rate.

During mid 2019, RBM had revised its 2019 annual inflation target from 8% to 9% owing to elevated maize prices.

A report by the Monetary Policy Committee (MPC) attributed the increase to food price developments as food inflation averaged 13.5% in the second quarter from 11.9% in the first quarter propelled by high maize prices.

On the other hand, the International Monetary Fund (IMF) backed Reserve Bank of Malawi’s 5% inflation rate target for the next 5 years, stating the target as attainable in the medium term, if the country does not slacken on the economic gains registered in the recent past.