Annual inflation in October 2023 was 3.1%, down from 3.2% in September 2023. Group indices were generally stable between the two months. Fuel prices have been the main driver of changes in inflation over the past two years, in part because international oil prices have been so volatile, combined with their very high weight in the Botswana Consumer Price Index (CPI) basket. Nevertheless, food prices remain the largest single contributor to overall inflation.