Food prices stubborn as inflation eases to 3.5%
Thursday, January 18, 2024 | 450 Views |
Breathing room: Overall inflation is slowing down, but food inflation remains a worry PIC MORERI SEJAKGOMO
Statistics Botswana figures show annual food inflation dropped from 6.7% in November to 6.1% in December, while inflation associated with transport fell to 1.5% from 2.2%. Annual inflation associated with personal care fell from 8.9% to 7.7%.
The latest inflation level is well within the three to six percent objective range set by Bank of Botswana and seen as supportive of stable price growth.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...