Malawi's consumer inflation quickened to 23.5 percent year-on-year in December from 22.9 percent the previous month, the statistics office said in a statement on Friday.

At the fifth meeting of the Monetary Policy Committee (MPC) meeting held on 26th September 2013, members resolved to maintain the Bank rate at 25.0 percent to sustain the tight monetary policy stance against the backdrop of emerging risks to inflation.

Malawi’s central bank maintained its benchmark interest rate at 25 percent, a six-year high, as it maintains its fight against inflation, the monetary policy committee said.

Malawi's central bank said it would keep its benchmark interest rate at 21 percent as it balanced a lower growth outlook for 2012 and rising inflation.

"Domestic real GDP growth is estimated to slowdown to 1.6 percent in 2012, attributed largely to negative growth in agriculture and manufacturing sectors," the Reserve Bank Of Malawi said in a statement dated October 3 but posted on its website on Thursday.

Source: Reuters