Tag Archives: inflation

Rome, Italy | Xinhua | As the crisis in Ukraine sends global fuel prices spiraling higher, governments in European Union (EU) member states are scrambling for ways to reduce the economic impact their citizens are feeling at the gasoline pumps. Prices for gasoline surpassed 2 euros (2.1 U.S. dollars) per liter …

Kampala, Uganda | THE INDEPENDENT | The cost of living is increasingly threatening the livelihoods of many Ugandans whose incomes have remained static, a new report by Twaweza has revealed. The cost of living crisis refers to the fall in ‘real’ disposable incomes resulting from high inflation. According to the latest …

Washington, U.S. | Xinhua | As U.S. inflation reached a 40-year high in May, President Joe Biden’s administration is facing “only bad options,” U.S. magazine Newsweek has reported. Over the last few months, the White House has been “badgered with questions about how the president will provide relief to Americans struggling …

Why it’s the wrong recipe for curbing inflation COMMENT | STEPHEN ONYEIWU | The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately. Whenever the Central Bank changes the monetary policy rate, otherwise known …

Kampala, Uganda | THE INDEPENDENT | Uganda and some of its neighbours will have a hard time as a new World Bank report warns of a possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. The Global Economic Prospects Report predicts that Uganda …

The Central Bank Rate raised from 6.5 to 7.5% to tame inflation Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda has for the first time in the last two years raised the central bank rate by 1% percentage point to 7.5% to tame inflation, setting the pace for commercial …

Kampala, Uganda | THE INDEPENDENT | The Central bank on Thursday announced that it was increasing the Central Bank Rate (CBR) to 7.5 percent from 6.5 percent to control the rising inflation. In a statement issued, the Bank of Uganda said it will continue to raise the CBR until inflation is …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …

Moscow, Russia | Xinhua | Russian President Vladimir Putin said Thursday that those countries, which are attempting to isolate Russia, are primarily only harming their economies. Putin said it would simply be unfeasible and impossible to isolate Russia, and “those, who aspire to do so would harm themselves the most,” during …

Kampala, Uganda | THE INDEPENDENT | Oil and gas companies and the industry regulators are still confident that Uganda’s first oil will flow by 2025, despite the rising global inflation. Most commodities worldwide have registered rapid price increases starting last year as economies reopened following the COVID-19 induced lockdown. The situation …