Monday, November 28, 2022

Uganda’s annual inflation drops to 1.9% in May

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Uganda’s annual inflation rate for the year ending May dropped to 1.9 perc from 2.1 percent recorded in the year ending April, the country’s statistics bureau said late Monday.

The Uganda Bureau of Statistics, UBOS, said that the drop was mainly attributed to a decrease in food and non-alcoholic beverages prices, among other reasons.

However, annual core inflation for the year ending May increased to 3.1 per cent compared to 2.9 per cent in April, which is attributed to the annual services inflation.

Meanwhile, the UBOS also said it had a new Consumer Price Index, CPI, calculation, which is in conformity with internationally accepted practices as well as regional trade blocs.

The new CPI has a basket of 344 items compared to the previous basket, which had 274 items.


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