Botswana's annual inflation rate slowed to 9.4% in July 2026 from 10.7% in June, easing after the previous month's reading marked the highest level since December 2022. The deceleration was driven in part by softer price growth in transportation and clothing and footwear, while inflation continued to pick up in miscellaneous goods and services, alcoholic beverages and tobacco, and food and non-alcoholic beverages. On a monthly basis, consumer prices fell 1.8% after rising 0.2% in the prior month, indicating a sharp short-term pullback in the overall price index even as annual inflation remained elevated.