Year-on-year inflation in Mauritius stood at 9.6 per cent in June, down from 10.7 per cent in May, according to consumer price data published on Thursday. Due to the COVID-19 pandemic and the impact of the Russia-Ukraine conflict on the local economy, the country's inflation, though pursuing a downward trend, remained high in June, compared to the 5.9 per cent rate in June 2021, according to the Consumer Price Index Report of Statistics Mauritius.
The growth estimates of the national statistical office are planned at 7.2 per cent in 2022 against a GDP growth performance of 3.6 per cent in 2021. According to the National Accounts Report of Statistics Mauritius, the authorities are targeting the arrival of 1 million tourists in 2022, banking on the rebound of the tourism industry to drive the national GDP growth.
The country on Thursday issued a series of social measures to fight inflation, including a special monthly allocation of Rs 1,000 (about 22 U.S. dollars) to all workers earning less than Rs 50,000 per month. It vowed an increase in the basic retirement pension allocation and the removal of the urban tax on property. There was no increase in corporate tax or personal income tax.
The Bank of Mauritius also adjusted its monetary policy to help fight against inflation and protect the purchasing power of Mauritians.