Headline inflation fell from 13.1 percent in October 2022 to 12.2 percent in November 2022, remaining above the Bank’s medium-term objective range of 3 – 6 percent, and significantly higher than the 8.6 percent in November 2021. According to Statistics Botswana, the decline in inflation between October and November 2022 mainly reflects the downward adjustment in domestic fuel prices in October 2022, as reflected under ‘the Transport’ category for which inflation declined from 32.3 to 28.2 percent. Moreover, inflation fell with respect to the following categories of goods and services: Recreation and Culture (from 4.5 to 4 percent); Housing, Water, Electricity, Gas and Other Fuels (from 5.4 to 5.1 percent); and Alcoholic Beverages and Tobacco (from 3.2 to 3.1 percent). The downward pressure on inflation was partly offset by inflation increasing for the following categories: Communication (from 1.6 to 2.4 percent); Food and Non-alcoholic Beverages (from 15.8 to 16.3 percent); Furnishing, Household Equipment and Routine Maintenance (from 5.7 to 6.2 percent); Restaurants and Hotels (from 5.3 to 5.8 percent); Clothing and Footwear (from 5 to 5.2 percent); Health (from 3.1 to 3.3 percent); and Miscellaneous Goods and Services (from 9.1 to 9.3). Inflation remained unchanged for and Education (1.6 percent).
Similarly, the 16 percent trimmed mean inflation decreased from 11.1 percent to 10.8 percent, while inflation excluding administered prices increased from 8 percent to 8.3 percent, in the same period.