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February 21, 2024
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FOOD, ENERGY PRICES CONTROBUTORS HIGH INFLATION – LETETE

Maseru, Nov.28 — Governor of Central Bank of Lesotho Dr. Maluke Letete says food and energy prices coupled with weak exchange rate were the main contributors to the rise in inflation.

Dr. Letete said this when giving report of the 104th Monetary Policy Committee (MPC) held on Tuesday.

He mentioned that domestic inflation increased to 6.5 percent in October from 5.8 percent in September.

He said that the continued weaker Loti, volatile crude oil prices, administered prices as well as the risk of El Nino presents upside risks to the medium term inflation outlook.

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