LILONGWE (Reuters) - Malawi's inflation climbed to 9.9 percent year-on-year in December from 9.6 percent in November, largely due to higher non-food prices, the National Statistical Office (NSO) said on Thursday. Average inflation for 2008 increased to 8.7 percent from 8.0 percent in 2007, it said. Malawi's second consecutive surplus harvest of the maize staple helped to reduce inflation from 15 percent in June 2006 to single digits in early 2007. Finance Minister Goodall Gondwe has said the southern African nation would not able to meet some of its economic targets because of the global financial crisis, which may hurt exports. Malawi relies on agriculture, primarily tobacco, for its foreign earnings and is dependent on imported oil and gas. |