National
Inflation rises at 7.1 percent in March
Publish Date: Mar 31, 2014
Inflation rises at 7.1 percent in March
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile
  • mail
  • img
newvision

Rising food prices pushed Uganda's headline inflation rate up to 7.1 percent in March from a revised 6.8 percent a month earlier, the Uganda Bureau of Statistics said on Monday.

On a month-on-month basis, consumer prices rose 1.1 pct, faster than the 0.4 percent increase recorded in February.

Ugandan inflation has come down from an 18-year high of above 30 percent in 2011 and its relative stability over the past year has suggested the economy can maintain fast growth without overheating.

The latest rise in inflation may raise pressure on the central bank to increase rates and slow the rate of credit growth in east Africa's third-largest economy.

Food prices rose 12.7 percent in the year to March compared with 11.0 percent in the twelve months to February, driven by the rising cost of several fruits and vegetables, the statistics office said.

"This is mainly due to decreased supplies of these items to the market, owing to a prolonged dry spell experienced in most parts of the country," it said in a statement.  Reuters

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
Businessman sues UNRA over Entebbe Expressway
A businessman has dragged UNRA to court seeking sh5b in damages for loss of business and the inconvenience over the construction of the Entebbe Expressway....
US Commander of Africa Forces visits
President Yoweri Museveni has said that the main challenge in Somalia today was clan-related issues. The President made the remarks at State House Entebbe in a meeting with the United States of America Commander of Africa Forces, General David Rodriguez....
Museveni hails Uganda-North Korea ties
President Yoweri Museveni describes the North Koreans as friends who have helped Uganda for a long time on visit of one of its leaders....
Slain Unilever boss mourned
Speaker after speaker described Makanga as a smart, classy, humble, respectful, joyful, hardworking man at his funeral in Kampala....
Muntu warns Mafabi, Nabila over media exchanges
ACCORDING to John Kikonyogo, the party spokesperson, Muntu said discussing the issues in the media was affecting the image of the party...
Gov
The minister in charge says the move will enable legal refugees seek study, business and medical opportunities abroad....
Should the absence of bride price prevent couples from wedding?
Yes
No
Can't Say
follow us
subscribe to our news letter