Food prices remain stubborn while dreaded El Nino nears

Déjà vu: One of the last El Nino events drained Gaborone Dam in 2015. It took Cyclone Dineo in 2017 to replenish the dam, which is the country’s second largest
Déjà vu: One of the last El Nino events drained Gaborone Dam in 2015. It took Cyclone Dineo in 2017 to replenish the dam, which is the country’s second largest

While the pace of price increases in the local economy has come down from the 14-year highs seen last year, inflation amongst food items remains stubbornly high. With the dreaded El Nino phenomenon set to return this year after drying up Gaborone Dam in 2015, the outlook is dire. Staff Writer, MBONGENI MGUNI reports

Since hitting a 14-year high last August, inflation has declined over the months, dropping back to single digits in January, the first time it had done so since April 2022.

Many consumers, however, have argued that the drop in the inflation figures has been arithmetic and belies the fact that for many, prices generally remain at elevated levels. In fact, when inflation dropped to 12% in December, from 14% in previous months, Mmegi used the analogy of a vehicle moving to 120 kilometres per hour, from 140 kilometres per hour; it’s still speeding.

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