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Uganda’s Inflation Slightly Increases To 5.3 Percent In September

Uganda’s Annual Headline Inflation for the year ending September 2017 has been recorded at 5.3 percent compared to the 5.2 percent reported during the year ended August 2017.This represents a 0.1 percentage point increase from the previous month. This is slightly above Bank of Uganda’s target of 5%.

Releasing the Consumer Price Index for September 2017 at Statistics House in Kampala, Uganda Bureau of Statistics (UBOS), Executive Director, Ben Paul Mungyereza, attributed the slight increase to the rise in Annual core Inflation which is recorded at 4.2 percent for the year ending September 2017 compared to 4.1 percent for the year ended August 2017.

“This rise was due to Services Inflation that increased to 4.1percent for the year ending September 2017 compared to 3.3 percent recorded for the year ended August 2017,” Mungyereza said.

However, Other Goods Inflation declined to 4.2 percent for the year ending September 2017 compared to the 4.7 percent recorded during the year ended August 2017.

In addition, the Annual Energy, Fuels and Utilities (EFU) Inflation registered 10.6 percent for the year ending September 2017 compared to 7.8 percent recorded for the year ended August 2017.

This was due to Annual Inflation for solid fuels (charcoal & firewood) that increased to 15.0 percent for the year ending September 2017 compared to 7.1 percent recorded for the year ended August 2017.

However, Liquid Energy Fuels inflation declined to 5.5 percent for the year ending September 2017 compared to 5.7 percent recorded in August 2017.

The Annual Food Crops Inflation declined to 9.6 percent for the year ending September 2017 compared to the 11.7 percent recorded for the year ended August 2017.

The driver for the lower Annual Food Crops Inflation was Fruits Inflation that declined to 10.9 percent for the year ending September 2017 compared to the 17.4 percent registered during the year ended August 2017.

However, vegetables inflation increased to 7.4 percent for the year ending September 2017 compared to 4.9 percent recorded for the year ended August 2017.

Details of UBOS report can be accessed here.

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