BoB expects inflation to average 8% this year

Ears to the ground: Pelaelo PIC: THALEFANG CHARLES
Ears to the ground: Pelaelo PIC: THALEFANG CHARLES

The Bank of Botswana (BoB) expects inflation to average eight percent this year—a revision from an initial forecast of 7.2% driven by higher food and oil prices, BusinessWeek has learnt.

The depreciation of the pula against the rand is also expected to add pressure on the prices of goods and services this year, the central bank said.

The revised average for inflation this year is mainly the result of the higher prices that trended in the first quarter of the year, during which inflation reached a 13-year high at 10.6% between January and February.

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