Uganda's Inflation Cools Slightly, But Core Prices Heat Up

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Uganda's Inflation Cools Slightly, But Core Prices Heat Up
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Uganda's inflation rate slowed slightly in April 2024, dropping to 3.2% for the year compared to 3.3% in March. However, core inflation, excluding food and energy, edged up to 3.5% from 3.4%.

The rise in core inflation stemmed from higher prices for "other goods," particularly fish and seafood. Dried Kapenta (Mukene) and fresh Tilapia saw significant price increases in April.

Ugandans also faced costlier domestic flights, hotels, local brew, cooking oil, cement, petrol, and charcoal. Even everyday essentials like cooking bananas, plantains, and vegetables became more expensive, pushing monthly inflation to 0.4% from 0.5% in March.

The report highlighted a disparity in inflation across regions and income groups. Kampala's high-income earners felt the pinch the most with a 4.5% annual inflation rate. Conversely, Mbale experienced the lowest inflation (1.4%).

The Uganda Bureau of Statistics (UBOS) advises Ugandans to be cost-conscious as prices continue to rise, particularly for essential goods.

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