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April 14, 2024
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UBOS – Uganda’s inflation stands at 1.9% in August

The rate at which prices of goods consumed by typical urban households has reduced to 1.9% in August, further below the 2.1% that was recorded in the month ending July. These results are what was recorded as per the consumer price indices released by the Uganda Bureau of Statistics (UBOS).

Information from the statistics body; the Uganda Bureau of Statistics shows that the reduction in inflation has been attributed to the decrease in the prices of a number of essential goods and services; prices of transport inclusive.

Kaudha Lubega, the head of macroeconomics statistics at UBOS notes that transport inflation was recorded at 10.7% in July 2021, however with the lifting of the lockdown, the same has shown a declining trend now standing at 7.3%

We had a lockdown where we had an increase in inflation that was for the last two weeks of June and the first two weeks of July. So there was also an increase in the transport fares, however, when you look at this month there has been a decrease in the same.”

However, even when there has been a decline in the annual inflation, prices of foods have increased to 1.3% up from the 0.7% that was recorded in July. The increased food prices have mostly affected the Arua district followed by Kampala high-income areas.

“We are noting that the food items and non-alcoholic beverages registered increments in prices which in the other end translated into inflation as per our figures for the sector.”

Kaudha Lubega adds that in the same month of August, there has been an increase in annual fuel and utility inflation.

There are fears that the increase in prices for food and fuel especially for Kampala high-end areas could hurt the economy.

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