Inflation Botswana 2023
Average inflation: 5.2%
Inflation in 2023
Inflation is very high at 5.2%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 10.0%. The lowest inflation was in August at 1.2%.
- Highest month
- March: 10.0%
- Lowest month
- August: 1.2%
- Difference
- 8.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 12.0%. The lowest price increase was in Energy with an average of 0.8%.
- Highest increase
- Food: 12.0%
- Lowest increase
- Energy: 0.8%
Historical Context
Inflation is 0.5 percentage points lower than the 5-year average of 5.7%.
- 5-year average
- 5.7%
- 10-year average
- 4.6%
- All-time high (2022)
- 11.6%
- All-time low (2020)
- 1.9%
Trend
Over the period 2021-2023, inflation shows a downward trend. Compared to 2022, inflation has fallen by 6.4 percentage points.
- Change vs. previous year
- -6.4 percentage points
- Largest monthly swing
- August: -13.4 percentage points
ECB Target
Inflation is 3.2 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for BWP 100 this year will cost approximately BWP 105.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 9.3% | -1.3 |
| February | 9.1% | -1.5 |
| March | 10.0% | +2.6 |
| April | 8.0% | +0.5 |
| May | 5.7% | -4.0 |
| June | 4.6% | -8.1 |
| July | 1.5% | -12.8 |
| August | 1.2% | -13.4 |
| September | 3.2% | -10.6 |
| October | 3.1% | -10.0 |
| November | 3.0% | -10.1 |
| December | 3.5% | -8.9 |
| Average | 5.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.