GOVERNMENT SET TO PUT MEASURES IN PLACE TO CUSHION CONSUMERS AGAINST SOARING FOOD PRICES
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Finance minister Peggy Serame says the government is concerned about the ever rising fuel and food prices and the impact of inflation on consumers.
She says the government plans to announce contingency measures soon to cushion consumers. Serame was speaking on the side-lines of the Southern African Customs Union summit last week.
The Minister said the global economic growth forecast has been revised downwards owing to the risks associated with the Russian invasion of Ukraine, which had resulted in an increase of crude oil prices.
According to official statistics, the Consumer Price Index was at 11.9 per cent in May. Serame said the current economic performance is of great concern to the entire SACU region, and each member state is looking at how best to address the economic implications brought about by the Russia/Ukraine conflict.
