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    Uganda Inflation Rate Rises to 2.8%

    Julius AlagbeBy No Comments1 Min Read
    Uganda Inflation Rate Rises to 2.8%

    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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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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