Uganda Inflation Rate Rises to 2.8%

The annual inflation rate in Uganda rose to a five-month high of 2.8% in January 2024, up from 2.6% in each of the previous two months, according to statistics office.

Last month, inflation surged to 2.6% from previous reading due to instability in prices of consumables.

Upward pressure came mostly from prices of personal care, social protection and miscellaneous goods , growing by 6.4% from 5.3% in December in 2023.

Also, insurance & financial services jerked up 5.8% vs 5.5% in the previous month.

In addition, education climbed 6.1%, the same as in December); restaurants & accommodation services (4.9% vs 4.4%); and health (5.2% vs 4.5%).

Monthly, consumer prices were flat in January, after increasing by 0.1% in the prior month. Analysts predict inflation growth rate will recede in the coming month. #Uganda Inflation Rate Rises to 2.8%#

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