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
UCC to punish pastor Bugingo
The Uganda Communications Commission has said it will withdraw Pastor Aloysius Bugingo’s broadcasting house operation licence if he is found guilty of using vulgar language...
MUK student arrested for shoplifting
Police in Kampala is holding a female Makerere University student who allegedly sneaked into Capital Shoppers Supermarket located at Garden City Mall and stole property worth sh2m...
ICC trial of Congolese
Former Congolese warlord Bosco Ntaganda, nicknamed "The Terminator", goes on trial before the International Criminal Court Wednesday, accused of war crimes including the rape of child soldiers by his own rebel army....
Museveni meets delegation of SPLM in Opposition
President Yoweri Museveni has advised South Sudanese to be frank to each other in their discussions to consolidate peace in their country....
Govt, CSOs hold talks on national budget
Government has held roundtable discussions with civil society actors to map up strategy for citizens' input in the national budget for the next fiscal year 2016/2017....
Expert cautions NGOs against serving foreign interests
Environmental expert Dr. Aryamanya Mugisha, has cautioned non-governmental organizations against serving foreign interests....
Do you support KCCA'S move to ban campaign posters from the city?
Yes
No
Can't Say
follow us
subscribe to our news letter