Cost of Living Up, Stands at K234, 935 For a Family of 6
Malawians’ disposable income is under threat, as the cost of living in the country's urban areas is still rising.
According to a report by the Employers Consultative Association of Malawi targeting basic needs basket assessment for January and February 2021, the rise in the cost of living coincides with the rise in inflation, currently at 7.7 percent as of February 2021.
The ECAM report indicates the cost of basic needs has generally gone up largely on account of an increase in Value Added Tax VAT on refined cooking oil and cost of non-food basic commodities.
The report further urges employers to consider employees have better living standards.
Meanwhile, Consumers Association of Malawi CAMA Executive Director John Kapito says the situation is worsening with Covid 19 effects.
“Covid 19 has left many jobless and production has also slowed down leading to a sharp increase in prices of basic commodities. This has left many with little options. Life has proved to unbearable for urban dwellers” said Kapito.
The cost of living report by ECAM targeted basic needs basket among other things, includes electricity and water, sugar, beans, and Utaka.
By December, the cost of living for a family of 6 was estimated at K230, 000.
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