Economic activity continued to grow in the third quarter of 2022, according to the Central Bank’s November Monetary Report.
The report noted this growth is being driven by expansion in both the local energy and non-energy sectors.
It added there also continues to be strong expansion in business lending and evidence of an upward tick in consumer lending.
The Monetary Report indicated that this was despite the slow growth in real estate mortgage lending.
The Central Bank notes however, several global supply-side factors continue to have notable pass-through to domestic prices keeping food inflation relatively elevated.