Malawi month-to-month Inflation eases to -2.5 Percent in April 2026

In April 2026, the national month-to-month inflation rate, reflecting the overall percentage change in the general price level of goods and services between   March and April 2026, stood at -2.5 percent from 0.6 percent the previous month. The food inflation dropped to -5.6 percent from -0.2 percent in March 2026 while non-food inflation rose to 2.6 percent from 1.9 percent over the same period.

In urban areas, the monthly inflation rate reached -0.6 percent, comprising a 4.6 percent decline in food prices and a 4.7 percent rise in non-food prices. In contrast, rural areas experienced a lower inflation rate of -3.5 percent, mainly due to a 6.1 percent decline in food inflation and a moderate rise of non-food prices by 1.4 percent.

Food prices remain the major driver of inflation

Food prices continue to be the main driver of inflation in Malawi. The moderation in the month-to-month inflation rate in April 2026, despite the sharp rise in non-food prices, was largely attributed to a faster decline in food prices compared to March 2026.

Table 1: Inflation rates and CPIs for February, March and April 2025 and 2026

In April 2026, prices of key food items, particularly cereals such as maize and rice, moderated. However, notable price increases were recorded for vegetables such as tanapose, rape, and chinese cabbage, and in the fish, meat, sugar, and milk sub-categories. Despite these increases, overall developments contributed to a lower food index since November 2025.

Fuel prices push up Non-food inflation

In contrast, the non-food index registered a notable increase over the same period, mainly driven by higher petrol and diesel prices implemented on 1st April 2026 as well as rising charcoal and firewood prices under the Housing, Water, and Electricity category. Additional upward pressure was observed in transport fares under the Transportation category, confirming with the effects of the April 2026 fuel price adjustment.

Year-on-Year inflation rate

An analysis of food price movements over the past twelve months indicates that prices declined at a faster rate in April 2026 than in April 2025, resulting in a lower Year-on-Year food inflation rate. Food inflation declined to 19.1 percent, down from 20.0 percent in March 2026 while Non-Food inflation rose to 33.2 percent from 30.7 percent over the same period. In general, the increase in the overall price index in April 2026 was higher than that observed in April 2025, resulting in an increase in the Year-on-Year inflation rate to 24.3 percent in April 2026 from the 23.8 percent recorded in March 2026.