Inflation stays put at 13-year high

Tuesday, March 15, 2022 | 1520 Views |

Out of reach: Cooking oil prices have risen by more than 28% in the 12 months to February 2022.

The rate of inflation remained at 10.6% in February, unmoved from January, with marginal price movements of various goods and services between the two months, a Statistics Botswana report released today indicates.

The current inflation rate represents the highest level since March 2009 and has been driven by a range of increases in administered prices last year, in particular, fuel prices which rose five times in 2021.

In its last review in late February, the Bank of Botswana (BoB) said inflation is projected to fall from the second quarter of 2022 and revert to within the target range of between three and six percent, from the third quarter of 2022.

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