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
Police arrests five over Kampala bank robbery
Police in Kampala have arrested five people in connection with the robbery of a bank, one month after a countrywide hunt by the Police Flying Squad....
Gov’t needs sh2.2trillion for HIV/Aids control by 2016
Government needs about sh2.2trillion for HIV/Aids response by the year 2016, money that is required to procure antiretroviral (ARV) drugs, HIV test kits and other related supplies....
Health commission to replace dead, retired health workers
The Health Service Commission says it is set to replace over 800 health workers who have reached the retirement age of 60 and those who have died....
‘With honest people, Uganda can be richest nation’
Retired Archbishop of the CoU, Henry Luke Orombi says Uganda can be the wealthiest nation on the planet if citizens are honest....
Museveni respects my advice, says AG
The Attorney General, Peter Nyombi, has said President Yoweri Museveni is “satisfied” with his “controversial” legal opinions...
MPs condemn KCCA staff
MPs condemn the “brutality” meted on suspects by Kampala Capital City Authority (KCCA) law enforcers....
Do you agree with the ban on the export of maids?
Yes
No
Can't Say
follow us
subscribe to our news letter