Uganda's Inflation Rate Rises

1990 Views Kampala, Uganda
Uganda's annual headline inflation rate has gone up again from 4.3 in August to 4.9 % in September, according to the Uganda National Bureau of statistics (UBOS). The UBOS Principal Secretary, Dr. Joseph Namanya, attributes the rise in inflation to Higher price levels of fish, fresh vegetables, and fresh fruits, currently Uganda's leading exports. A report released this afternoon shows the annual core inflation rate, which excludes foods, fuel, electricity and metered water, from the Consumer Price Index (CPI) basket fell slightly to 5.7% from 5.8%. Meanwhile the month-to-month inflation rate was up by 1.2% compared to a decline of 0.5% in August. The report also states that the purchasing power depreciated significantly over the past few months, resulting into low income movement in the market. The low purchasing power was triggered off by the high cost of consumer items like Irish potatoes, fruits, charcoal, petrol, and transport fares. In August, Arua and Mbarara districts registered the highest increase in food prices due to low food supplies. The low food supplies were a result of unpredictable weather conditions which rendered most roads impassable.

 

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