Inflation set to cool

Monday, June 19, 2023 | 330 Views |

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Inflation fell to 5.7 percent in May, the lowest in two years, with the Bank of Botswana (BoB) saying it expects the rate of increases in prices to continue easing into the medium-term, the Monitor Business has learnt.

The central bank has a medium-term objective range for inflation of three to six percent, which it considers conducive for economic growth and stability in the country.

However, prior to May, inflation was last within the objective range in April 2021, as the impact of increases in various taxes and levies as well as frequent hikes in administered prices such as fuel, pushed the cost of living to 14-year peaks in August 2022.

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