Annual inflation rate stands at 4%

The inflation rate has gone down over the last one year, according to statistics released by the Uganda Bureau of Statistic (UBOS).

According to the statistics, the inflation rate for the year ending November 2017 was 4% compared to 4.8% recorded for the year that ended October 2017.

The reduction was attributed to the general decline in prices of food crops especially vegetables and fruits.

“The inflation for vegetables was 6.5% in October and 3% in November while fruits inflation dropped to 1.8% from 9.7%,” said Vincent Nsubuga Musoke, the principal statistician at UBOS.

Other goods that recorded a decline were driven by sugar that dropped from 25.9% to 20.5 %.

The inflation rate by income groups among the different geographical areas indicated that Mbale experienced the highest inflation of 6.5% in November 2017 compared to October when inflation was 0.8%. This was attributed to increase in restaurant and hotel prices.

Other changes in the consumer prices as of the year ending November 2017 compared to the year ending October 2017 were registered in communication services where an increase in airtime prices was recorded.