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Low Inflation
One major pillar of Botswana's macroeconomic policy is to maintain a stable and manageable inflation and exchange rate in order to improve Botswana's competitiveness in international markets and contribute to the broader national objective of achieving diversified and sustainable economic growth. Inflation rose to a fourteen-year high of 15.1% in August 2008, this being the result of high prices of petroleum and food as well as expansionary domestic demand. However, inflation is expected to remain within the medium term inflation objective of 3 – 6% in 2009. Botswana has a very low inflation rate compared to a number of countries in the SADC region.
Inflation Rates in Botswana
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
Jan |
5.7 |
10.8 |
6.2 |
8.0 |
12.7 |
7.4 |
8.4 |
12.8 |
Feb |
5.7 |
11.6 |
6.3 |
7.3 |
13.1 |
7.3 |
9.0 |
11.7 |
Mar |
6.1 |
10.6 |
6.9 |
6.5 |
13.8 |
6.5 |
9.8 |
11.7 |
Apr |
6.9 |
10.8 |
6.6 |
6.2 |
14.2 |
6.3 |
11.1 |
10.2 |
May |
5.8 |
11.2 |
7.4 |
6.3 |
13.5 |
6.4 |
12.1 |
8.4 |
Jun |
5.9 |
12.2 |
6.7 |
7.1 |
12.5 |
6.4 |
14.5 |
7.0 |
Jul |
8.8 |
8.6 |
6.8 |
8.2 |
11.9 |
7.5 |
15.0 |
6.0 |
Aug |
9.9 |
7.8 |
6.7 |
9.6 |
10.7 |
7.2 |
15.1 |
6.1 |
Sep |
10.1 |
7.3 |
7.0 |
10.0 |
10.5 |
6.8 |
14.0 |
7.0 |
Oct |
10.0 |
7.0 |
7.7 |
11.2 |
9.2 |
7.3 |
13.1 |
6.9 |
Nov |
10.4 |
6.6 |
7.6 |
11.3 |
8.8 |
7.7 |
15.0 |
5 |
Dec |
10.6 |
6.4 |
7.8 |
11.4 |
8.5 |
8.1 |
13.7 |
5.8 |
Average |
8.0 |
9.2 |
7.0 |
8.6 |
11.6 |
7.1 |
12.6 |
8.2 |
Source: Central Statistics Office
Source: Central Statistics Office, Bank of Botswana, Botswana Financial Statistics,2009
**Average for 2009 is calculated for months up to August 2009
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