The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | The pace at which the prices of annual food crops increased has contributed to the slowdown of inflation for the last 12 months ending April, according to the Uganda Bureau of Statistics-UBOS report.
The Consumer Price Index (CPI) report released by UBOS indicates that Uganda’s annual inflation increased at a slower rate of 3.2 percent, compared to 3.3 percent registered in the year ended March 2024.
According to the report, while most categorized products registered increments, though not very significant, annual food crops and related items were on the opposite with a 2.9 percent decrease, down from minus 0.4 percent indicated in the same period for the year ending March 2024.
“This was mainly attributed to the decrease in prices of cooking bananas by minus 11.7 percent, compared to 8.2 percent registered in March 2024. Dry beans prices reduced by minus 8.5 percent, compared to 3.4 percent in March 2024. Sweet potatoes decreased by minus 19.9 percent, down from minus 12.0 percent last year,” reads part of the report.
The report indicates that the biggest contributor to the slight increase in the inflationary rate was the items in the other goods category, which increased by 2.0 percent compared to 1.6 in March.
Inflation rates for selected items in this category are silverfish commonly known as Mukene, whose prices increased by 28.8 percent against 6.9 percent for March, and fresh Tilapia, which posted 15.6 percent compared to 5.8 percent for the year ending last month.
The other items registered were refined oils at minus 8.6 percent from minus 14.1 percent, and local chicken stood at 3.6 percent, up from 0.3 percent.
The report also notes that annual services registered a slower increase of 5.4, one percentage point lower than what was recorded last month. “This slow pace of increase in the annual services category was due to domestic flight fares by 14.5 percent, compared to 5.5 percent, and Hotel and lodging services by 7.6 percent against the 1.9 of March,” it reads.
It also found out that energy, fuel, and utility inflation only increased by only 0.3 points to 7.9 percent, and this was mainly due to the electricity charges, which increased by 1.4 percent up from minus 1.0 percent in May. Petrol increased by 6.9, from 5.4 percent, and charcoal prices rose by 18.8 compared to 17.7 percent in March.
***
URN
