Inflation Trends: Will a 7% Rate by Year-End Provide Relief?

Mauritius’ inflation rate was 9.6% in August 2023, but the Bank of Mauritius forecasts it could decrease to 7% by December.

This aligns with global trends, as the IMF predicts a 6.8% worldwide inflation rate in 2023. Year-on-year inflation dropped from 12.2% in December 2022 to 5.9% in August 2023.

Experts emphasize the need to manage inflation effectively, as a 7% rate can burden vulnerable groups, like retirees and minimum-wage earners.

Reducing inflation further is vital to support economic stability, with efforts focused on mitigating import dependencies and targeting a 2-4% inflation range.

Source: Defi Media