Business
Inflation shot up in January
Publish Date: Feb 02, 2014
Inflation shot up in January
An official says the dry spell in some parts of the country could have affected food supply. Prices of oranges have shot up.
  • mail
  • img
newvision

By John Odyek

Inflation went up in January to a recorded 6.9%, down from 6.7% in December last year as prices of many food items like Irish potatoes, cabbages, groundnuts, tomatoes, oranges and chicken soared.

Chris Mukiza, the director of macroeconomic statistics, Uganda Bureau of Statistics (UBoS) says that the dry spell in some parts of the country might have affected food supply to markets.

He says despite the South Sudan conflict, prices in Uganda’s towns bordering the conflict-stricken nation have not gone up and so the impact of the fighting is yet to be studied.

Many economic experts predict that the South Sudan conflict might impact on Uganda’s economy as the county was and is one of Uganda’s main trading partners.

Uganda Bureau of Statistics has said other prices that have shot up slightly include charcoal, clothing, unmetered water, medical services, hair dressing, rental charges.

Prices of items that have dropped or remained stable include fish, cement, bananas, soda, transport fares, petrol, sugar, kerosene, pineapples, passion fruit and carrots.

Uganda’s inflation rate has declined from a double digit figure but economic concerns remain over low production capacity, unemployment, high cost of doing business, low stock of infrastructure, a weak shilling in the region and high interest rates.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Students’ involvement in investment negotiations is key
University students have been urged to get involved in negotiations of trade, bilateral and investment agreements rather than leaving it to technocrats and politicians....
Practices to add to your daily business schedule
At the end of each day’s work, find time to identify three things that went well. Once you identify them, ask the critical question such as, “Why did ‘X’ go well?”...
Dubai insurer set for Uganda
The new firm will enter into strategic partnerships to oversee, design, and control processes of selected licensed brokers....
Textile manufacturers want the national textile policy implemented
Textile industries are pushing for the implementation of a National Textile Policy. They also want government institutions compelled to buy textiles from local companies....
BOU has no influence on govt spending
There have been allegations in the media that Bank of Uganda printed money for the 2011 elections, which led to the high inflation rate at the time....
UAE Exchange honoured at FiRe Awards 2014 in Uganda
UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has been honoured with the Certificate of Recognition for Outstanding achievement in Financial Reporting under Forex Bureau category in FiRe Awards 2014 in Uganda....
Should workers be subjected to a 4% Health Insurance Tax??
Yes
No
Can't Say
follow us
subscribe to our news letter