Inflation rate increases to 5.5%
Nov 01, 2007
RISING food prices pushed the October inflation rate to 5.5% from 5% in September, the Uganda Bureau of Statistics (UBOS) has said.
By Peter Kaujju
RISING food prices pushed the October inflation rate to 5.5% from 5% in September, the Uganda Bureau of Statistics (UBOS) has said.
“Food prices went up in most centres with significant contributions coming from Matooke, Irish potatoes, cassava, fruits and vegetables like passion fruits, pineapples, cabbages, tomatoes and dried beans,†the monthly consumer price index from UBOS said.
The increase in the food prices was attributed to reduction in supply as the main harvesting season wound up.
The annual core inflation, which excludes foods, fuel and metered water, rose to 6.4% from 5.8%.
The monthly headline inflation rate also increased by 1.2%, the same as what was recorded in September.
Prices of meat, chicken and milk went up as well in all centres countrywide.
Arua and Gulu had the highest headline inflation rate at 15.9% and 8.7% respectively.
Prices of paraffin, charcoal and petrol rose in most centres due to high oil prices on the world market. The price of a bag of charcoal is now sh25,000 in Kampala.
The oil price on the international market averaged $80 per barrel last week before hitting $90. It is expected to reach $100.
Matthew Ssewanyana, the director of macro-economic statistics, predicted price increases in the remaining two months due to the Commonwealth meeting and end-of-year shopping.
RISING food prices pushed the October inflation rate to 5.5% from 5% in September, the Uganda Bureau of Statistics (UBOS) has said.
“Food prices went up in most centres with significant contributions coming from Matooke, Irish potatoes, cassava, fruits and vegetables like passion fruits, pineapples, cabbages, tomatoes and dried beans,†the monthly consumer price index from UBOS said.
The increase in the food prices was attributed to reduction in supply as the main harvesting season wound up.
The annual core inflation, which excludes foods, fuel and metered water, rose to 6.4% from 5.8%.
The monthly headline inflation rate also increased by 1.2%, the same as what was recorded in September.
Prices of meat, chicken and milk went up as well in all centres countrywide.
Arua and Gulu had the highest headline inflation rate at 15.9% and 8.7% respectively.
Prices of paraffin, charcoal and petrol rose in most centres due to high oil prices on the world market. The price of a bag of charcoal is now sh25,000 in Kampala.
The oil price on the international market averaged $80 per barrel last week before hitting $90. It is expected to reach $100.
Matthew Ssewanyana, the director of macro-economic statistics, predicted price increases in the remaining two months due to the Commonwealth meeting and end-of-year shopping.