Inflation jumps to record highs since 2008 recession

Headline inflation increased from 12.7 percent in June to 14.3 percent in July 2022, the highest value since December 2008 ( 13.7 percent), remaining above the bank’s medium- term objective range of three to six percent, and significantly higher than the 8.9 percent in July 2021. according to statistics Botswana, the rise in inflation between June and July 2022 mainly reflects broadbased increase in the annual price changes for most categories of goods and services and, in particular, the upward adjustment in domestic fuel prices effected on June 28, 2022, and Air Botswana passenger fares effected on July 8, 2022, as reflected in an increase in annual price change in the ‘ transport’ category ( from 35 to 39.3 percent). “However, the upward pressure on inflation was partially offset by inflation falling with respect to ‘ alcoholic beverages and tobacco’ ( from 4.6 to 4.2 percent).”