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150 countries to compare prices

By Vision Reporter

Added 18th July 2005 03:00 AM

UGANDA is among the 150 countries participating in the World Bank-funded Price Comparison Programme this year.

By Arthur Baguma
in Ssembabule

UGANDA is among the 150 countries participating in the World Bank-funded Price Comparison Programme this year.
While officiating at data collection in Ssembabule recently, the principal statistician of Uganda Bureau of Statistics, Vincent Nsubuga, said the programme is the first of its kind in Uganda.
“The project aims at assessing the wealth of countries for fair allocation of development aid. Using ordinary exchange rates gives a distorted picture of prices and the purchasing power in different countries,” Nsubuga said.
The programme calculates an exchange rate called the Purchasing Power Parity, which travelers need to compare prices between countries.
The Purchasing Power Parity between two countries is the rate at which one country’s currency needs to be converted into that of another country to purchase the same volume of goods and services in the second country.
Data will be collected in Kampala, Wakiso, Masaka, Mbale, Gulu, Luweero, Ssembabule, Kamwenge, Kamuli and Sironko.
These districts will have a sample of prices in rural and urban areas.
Nsubuga said prices of goods and services will be collected from supermarkets, retail and wholesale shops, mobile shops, street vendors, local governments, the private and public service.
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150 countries to compare prices

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