Soaring food prices push inflation up

source: Mmegi


For the second successive month, the annual inflation rate rose by 0.4 percentage points to 7.7 percent in November from October’s figure of 7.3 percent.

This means prices of a general basket of goods and commodities have risen by an average of 7.7 percent from November 2006 to November 2007. The increase in November has all but thrown away any hopes that the Bank of Botswana had of achieving its 2007 annual inflation rate objective of between 4 percent and 7 percent as there is no more room for a downswing in the month of December due to persistent food price induced inflationary pressures.

In a statement, the central bank said the widening gap between the inflation rate and the upper limit of [continue reading]

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