Inflation reaches 8-year high

Mbongeni Mguni | Friday May 14, 2021 12:03

 

Inflation reaches 8-year high PIC: BASHI KIKIA

The increase was driven by the April 1 fuel price increase as well as higher prices of food, alcohol, financial services, house rentals and electricity tariffs.

The Bank of Botswana expects inflation to top six percent by June before returning to below that level in the first three months of next year.

Inflation this year is being driven broadly by the increase in Value Added Tax, higher fuel levy, increased Botswana Housing Corporation rentals and a range of other increases in administered prices.