Botswana's consumer inflation dropped to 9.3%
year on year in January from 12.4% in December, but it is still
far above the central bank's 3%-6% preferred band.
"It is projected that inflation will trend downwards in
Botswana and revert to within the objective range of 3%-6% in
the second quarter of 2024," said Bank of Botswana Governor
Moses Pelaelo, attributing the predicted fall to an expected
reduction in domestic fuel prices and international commodity
prices.
Botswana's economy is expected to grow 4% in 2023, down
from 6.7% in 2022, he told a news conference.
(Reporting by Brian Benza;
Writing by Nellie Peyton and Anait Miridzhanian;
Editing by Alexander Winning)
