Malawi: Inflation hits double digits

The country's year on year headline inflation for January 2012 stands at 10.3 per cent, up from 9.8 per cent registered in December last year, the National Statistical Office (NSO) says. This development comes barely few days after Lilongwe based Centre for Social Concern (CfSC) noted that prices for basic commodities were still on the rise fortifying fears that an increase in the national inflation rate was imminent. Commenting on the current economic trends, former finance minister Cassim Chilumpha has said Malawians should brace up for tough times lying ahead following the persistent shortage of foreign exchange and fuel which is contributing to the surging inflation.