Botswana’s Annual Inflation Rate Drops to 1.2 Percent in August

By Xinhua 

September 20, 2023

Despite uncertainties in the micro- and macroeconomic environment, Botswana’s annual inflation rate performance continues to decline, Statistics Botswana, the country’s data authority, announced Monday.

According to Statistics Botswana, the annual inflation rate stood at 1.2 percent in August, registering a decrease of 0.3 percentage points from 1.5 percent in July.

“The main contributors to the annual inflation rate in August were the following groups: transport, food and non-alcoholic beverages, and miscellaneous goods and services,” said Statistician General Burton Mguni, adding that the group indices generally moved at a stable pace between July and August.

Botswanan Finance Minister Peggy Serame recently highlighted that Botswana’s monetary policy framework focuses on maintaining price stability by ensuring that inflation is kept within the Bank of Botswana’s target range of 3 to 6 percent, adding that the inflation is forecast to remain within the target range during the next few months.