Uganda inflation stays below 2 pc in May

June 4, 2018 in Business, Finance by Editor

June 4, 2018—Inflation in Uganda slipped lower to 1.7 pc for the year ending May 2018 from 1.8% pc during April.

The drop is largely attributed to a decline in the Annual Core Inflation to at 1.1 pc for May compared to 1.6 pc recorded for the year ended April 2018.

Annual Other Goods Inflation dropped to 0.6 percent in May 2018 compared to 1.0 percent recorded the previous month.

In addition, Annual Food Crops and Related Items Inflation decelerated further to minus 0.2 percent for the year ending May 2018 compared to minus 2.1 pc for the year ended April 2018. This drop was due to Annual Fruits Inflation that registered minus 7.4 percent for the year ending May 2018 compared to minus 8 pc recorded for the year ended April 2018.

However, The Annual Energy, Fuels and Utilities (EFU) Inflation remains high at 10.3% pc although slightly lower than the 10.4 pc recorded for the year ended April 2018.

Dr. Chris Mukiza, theUganda Bureau of Statistics (UBOS), Director of Macroeconomic statistics said the general price level has have remained relatively stable. However, Arua in north west Uganda at 3.9 pc, still has the highest inflation rate among the geographical areas. It is followed by Fort Portal at 3.6%, and Kampala at 2.3%.