Find visitors' favorite businesstravel Hotels And.... Book your best!

ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export  

Uganda inflation rate surges to 28.3 percent

Friday, 30th September, 2011

Uganda's year-on-year inflation rate leapt to 28.3 percent in September from 21.4 percent a month earlier, the highest level since January 1993, on the back of food prices, the Uganda Bureau of Statistics (UBOS) said on Friday.

Analysts said the bigger-than-expected inflation jump increased the chances the Bank of Uganda would raise its benchmark lending rate next Tuesday for the third month in a row since it was first launched in July.

UBOS said the consumer price index leapt 6.8 percent from a month earlier, driven by an 8.4 percent increase in the cost of items such as plantains, sugar, potatoes, cassava, pineapples, meat, chicken, eggs, fish and bread.

"The increase in prices of these food items is mainly attributed to reduced supplies to the market during the month," UBOS said at a news conference.

"The main inflation driver remained food inflation. Food inflation rose to 50.4 percent for the year ending September 2011 from 42.9 registered in August 2011," UBOS said.

"Food crops registrered an annual inflation rate of 38.8 percent for the year ending September 2011, compared to 33.7 for year ended August 2011," it said.

The core rate of inflation -- which excludes food crops, fuel, electricity and metered water -- also jumped to hit 27.5 percent in September from a revised 20.1 percent in August. The August rate had previously been given as 20.0 percent.

The Bank of Uganda said in July when it launched its Central Bank Rate (CBR) at 13 percent that it would target 5 percent core inflation in the medium term. The core inflation rate stood at 12.2 percent at the time.

The Bank of Uganda raised the CBR to 14 percent in August and to 16 percent at the start of September.


Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Currency and Forex News .

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Book a Prisons & Correctional
Charity Tour

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency