Taonga Sabola & Emmanuel Moyo:

Malawians are failing to cope with the supersonic speed at which prices of commodities are rising on the market, The Daily Times has learned.

In snap surveys conducted across the country, The Daily Times has established that in recent weeks, traders, especially small-scale ones, have been hiking prices of commodities almost on daily basis.

The traders are blaming the situation on Kwacha’s instability, despite the official rate of the local unit to major trading currencies remaining constant.

A Lilongwe City-based wholesaler Monday said forex is not available at the official rate and that for them to remain in business, they have been relying on the parallel market, where it is available at a premium.

“I thought you are a business reporter? Do your research. Try to get United States (US) dollars on the official market and let’s see if you are going to get them. Others are selling one United States dollar at K4,200,” he said.

Some forex bureau operators at Kamuzu International Airport in Lilongwe yesterday indicated that they were struggling to get the greenback because of the relatively lower rate they are buying it at.

They indicated that they are buying it at an average rate of K1,910 and selling at K1,950.

In Blantyre City’s Central Business District, some black-market forex traders were selling one US dollar at K4,200.

However, the traffic of US dollar buyers painted a picture that some Malawians were okay with the prevailing price.

Gerald Kanyika, a resident of Karonga District, said the increase in prices of goods had significantly impacted the cost of living, as the rate of price hikes did not align with growth in income.

“Unfortunately, the items affected are essential commodities, leaving many of us in a hand-to-mouth situation. We are finding the situation very tough to manage,” he said.

Troy Samuel Vyazhi, a resident of Nsanje District, said rising prices had made budgeting almost impossible.

“Actually, the situation is forcing me to be borrowing money for consumption, just to survive,” Vyazhi said.

Another resident, student Blessings Chidziwitsano, said he had been unable to buy food and other basic needs with the pocket money he gets from his parents because of the unstable prices of goods.

“I used to spend less than K20,000 on commodities per month. Now I am spending K50, 000 just on food per week,” he said.

Residents of Kasungu District also said they were concerned about the daily rise in the prices of goods.

Haswel Suphuka, a resident of Kasalika, Senior Chief Kaomba, said they could hardly keep track of commodity prices.

“Last week, we were buying a loaf of bread at K2,200. The same loaf is now selling at K3,000,” he said.

In Mzimba District, 21-year-old Marriam Banda, who runs a mandasi business,