Inflation in Malawi
In the year to July 2026, consumer prices in Malawi rose 20.9%, down from 21.1% a month earlier. Since January 2010 prices have risen 1,423.4%, which means MK100 then buys what MK1,523.43 buys now, so the same basket of goods costs 15.2 times what it did.
Cumulative & Yearly Inflation
Inflation in Malawi by year
Inflation is the change in that year's average prices against the year before, which is the figure usually quoted. The last two columns take MK100 in January of that year and show what it is worth in July 2026, the most recent month on record. Only years measured in full are listed, so the year now running appears once it ends.
| Year | Inflation | MK100 is now | Cumulative inflation |
|---|---|---|---|
| 2020 | 8.6% | 339.32 | 239.3% |
| 2024 | 32.2% | 165.49 | 65.5% |
| 2025 | 28.4% | 128.70 | 28.7% |
Every year from 2011 to 2025
| Year | Inflation | MK100 is now | Cumulative inflation |
|---|---|---|---|
| 2011 | 7.6% | 1,429.37 | 1,329.4% |
| 2012 | 21.3% | 1,295.77 | 1,195.8% |
| 2013 | 27.3% | 986.46 | 886.5% |
| 2014 | 23.8% | 783.50 | 683.5% |
| 2015 | 21.9% | 646.30 | 546.3% |
| 2016 | 21.7% | 523.58 | 423.6% |
| 2017 | 11.5% | 443.12 | 343.1% |
| 2018 | 12.4% | 409.99 | 310.0% |
| 2019 | 9.4% | 376.92 | 276.9% |
| 2020 | 8.6% | 339.32 | 239.3% |
| 2021 | 9.3% | 315.13 | 215.1% |
| 2022 | 21.0% | 281.21 | 181.2% |
| 2023 | 28.8% | 223.38 | 123.4% |
| 2024 | 32.2% | 165.49 | 65.5% |
| 2025 | 28.4% | 128.70 | 28.7% |
A short history of inflation in Malawi
Devaluation Cycles (1994 onwards)
Malawi is landlocked, imports its fuel and fertiliser, and depends on tobacco for most of its export earnings, which leaves it chronically short of foreign currency. The kwacha has been devalued repeatedly since it was floated in 1994, and each devaluation has produced a burst of inflation in an economy where nearly everything tradable is imported.
The 2023 Devaluation
The sharpest recent instance came on 9 November 2023, when the Reserve Bank devalued the kwacha by 44% in a single step, having already devalued it the previous year, after a shortage of dollars had left fuel and medicine unobtainable. Poor harvests, made worse by Cyclone Freddy in early 2023, pushed food prices in the same direction at the same time.
Common questions about inflation in Malawi
What is the current inflation rate in Malawi?
Prices in Malawi rose 20.9% in the year to July 2026. That is down from 21.1% a month earlier.
What would MK100 in January 2010 be worth today?
MK100.00 in January 2010 has the same buying power as MK1,523.43 in July 2026, a rise of 1,423.4%.
What would MK100 in January 2020 be worth today?
MK100.00 in January 2020 has the same buying power as MK339.32 in July 2026, a rise of 239.3%.
How inflation in Malawi is measured
The figures on this page come from the IMF's CPI dataset, with the original data from the National Statistical Office of Malawi. The series is indexed so that a chosen base year equals 100, and the calculator works out the ratio between any two dates you pick.
The currency shown is the Malawian kwacha (MK). Coverage runs from January 2010 to July 2026, and updates automatically as each new release is published. Figures for the most recent periods can be revised by the statistics office after first publication.
Use this data
Click the reference to select it.
Compare Inflation. “Inflation in Malawi.” Figures for July 2026. https://compareinflation.com/inflation-in-malawi/
Download the full series (CSV) — 199 months, January 2010 to July 2026, with the annual rate for each.