Food prices tick up, but inflation set to drop

Friday, June 19, 2020

Mixed outcomes: Inflation will decline this month, but food prices remain on the higher side PIC: PHATSIMO KAPENG

Inflation is expected to retreat this month on the back of the recent significant drop in fuel prices, even as food costs, particularly those of meat, stubbornly press higher.

The Botswana Energy Regulatory Authority on Friday dropped fuel and paraffin prices by an average P1.58, the largest decrease in several years and the second this year since the average 14.3 thebe decrease in April.

With no reviews of fuel prices throughout 2019, the latest reduction means a significant reduction in the Transport sector of the Consumer Price Index (CPI), the measure of inflation. Transport carries the heaviest weighting in the CPI at 23.43 meaning even marginal changes in the sector influence overall inflation.

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