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Mauritius private operators predict high inflation until 2023

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Mauritius private operators predict high inflation until 2023

Some 95.6% of 50 private sector operators surveyed by the Bank of Mauritius as part of its latest Inflation Expectations Survey expect inflation to exceed 7% this year. This trend should continue next year, according to their forecasts.

Almost 8 out of 10 respondents believed that the inflation rate is high. 15.6% considered the rate to be low while 4.4% considered that “it is appropriate”.

The respondents’ opinions were based on the inflation rate of 8.4% recorded in July. In the meantime, inflation soared to 8.8% in August while year-on-year inflation had reached 11.5% then.

The respondents said the main factors accounting for the current inflation pattern were “external factors”, “Change in Rupee exchange rate” and “change in aggregate demand”.

The Bank of Mauritius expects the inflation rate to come down to 10.6% by the end of the year.

Source: Bank of Mauritius

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.