Inflation slows to 6.7 percent
The country’s year-on-year inflation, as measured by the Central Statistics Office (CSO), slid 0.3 percent to 6.7 in August, aided by the reduction in fuel prices during the month.
Government reduced retail pump prices for both petrol and diesel by 13 and 25thebe per litre respectively on August 9, while the price of illuminating paraffin was cut by 37thebe per litre. The Department of Energy Affairs said the reductions represented an effort to normalise prices following “a heavy” increase in fuel prices in May.
The August inflation figure marks a return to the below seven percent inflation range seen in the first quarter of [continue reading]