Mmegi

Inflation remains at three-year highs

Higher and higher: The increase in electricity tariffs from August 1 will dent the inflation relief expected from the July 6 reduction in fuel prices
Higher and higher: The increase in electricity tariffs from August 1 will dent the inflation relief expected from the July 6 reduction in fuel prices

The annual rate of inflation was unchanged between May and June at 10.7% - a figure that represents three and a half year high - as the impact of fuel price increases earlier in the year continue to echo, Statistics Botswana numbers indicate.

The 10.7% is the highest inflation has reached since December 2022, when Russia’s invasion of Ukraine earlier that year triggered a global spiral of food and fuel prices.

Statistics Botswana figures show that between May and June, indices tracking the various goods and services were moving at a stable pace, recording changes of less than one percent. In terms of contribution to annual inflation in June, the transport group weighed the heaviest on the calculation of 10.7% inflation.

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Whilst many citizens put trust in their leaders that they are tackling one of the worst curses that can befall a country, the public has lost trust after all the cases seemed not to go anywhere.As the saying goes, ‘corruption is a cancer that eats away at the fabric of society’; corruption affects effective governance.Corruption affects delivery of services to the public and also crumbles most systems meant to assist citizens who are very...

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