Speculation surrounding inflation and potential currency devaluation is significantly contributing to rising prices of goods and services in Malawi, financial experts have warned.

This concern was raised during an engagement between the Reserve Bank of Malawi (RBM) and members of the Nyika Media Club in Mzuzu, where central bank officials highlighted the impact of misinformation on economic stability.

Director of Financial Markets at the RBM, Chakudza Linje has explained that business operators are preemptively increasing prices to cushion themselves against perceived economic shocks. He emphasized that such speculation exacerbates the burden on ordinary consumers.

“The fear of inflation and devaluation is driving businesses to adjust prices prematurely, which in turn affects the general public. We urge media practitioners to play a role in dispelling misinformation that fuels panic,” Linje stated.

Meanwhile, Feston Malekezo, Chairperson of the Nyika Media Club, attributed the spread of economic misinformation to the irresponsible use of social media. He assured that journalists would take an active role in promoting accurate and fact-based financial reporting.

The RBM continues to monitor market trends and economic indicators while calling for responsible dissemination of financial news to prevent unnecessary panic and economic disruptions.

Source:MIJ Online