Uganda’s inflation dips in March

April 4, 2017 in Business, Finance by Editor

April 4-Uganda’s annual headline inflation dipped slightly in March 2017 to 6.4 percent from the 6.7 percent recorded in February owing to a decline in the Annual Core inflation.

According to the latest Consumer Price Index released by the Uganda Bureau of Statistics (UBOS), the decrease was due to price declines for services down to 4.7 percent in March 2017 compared to the 5.9 percent in February.

“The key sector that led to the decline was education inflation that dropped to 11.8%  for the year ending March 2017 compared to 20.2% recorded during the year ended February 2017,” the UBOS statement reads in part.

However Annual Food Crops Inflation went up from 18.8% to 20.7%  and this was mainly driven by a rise in prices for fruits. Fruits inflation increased to 35.6%  in March compared to the 28.5% registered during the year ended February 2017.

The prevailing rains in most parts of the country also drove vegetables inflation to drop to 11.6% for the year ending March 2017 from the 13.3% recorded for the year ended February 2017.

The Annual Energy, Fuels and Utilities (EFU) Inflation also recorded an increase to 3.8 percent for the year ending March 2017compared to 1.0 percent recorded during the year ended February 2017 owing to an increase in Annual Inflation for Solid Fuels that recorded 3.5 percent for the year ending March 2017 compared to minus 2.1 percent recorded for the year ended February 2017.

Liquid Fuels inflation increased to 2.5 Percent for the year ending March 2017 compared to minus 1.0 percent drop recorded in February 2017.