July inflation drops

kAMPALA - Uganda's annual headline inflation for the year ending July 2019 dropped to 2.6% compared to 3.4% recorded in June 2019, the Consumer price index (CPI) report produced by the Uganda Bureau of Statistics (UBOS) indicates.

CPI is a measure of the monthly average change in prices that consumers pay for a market basket of goods and services during a selected period. Food crops inflation is the main driver of inflation.

This is the lowest inflation level recorded since December 2018. The drop was mainly attributed to communication rates that had dropped considerably.

Uganda's inflation rate averaged 6.28% from 1998 until 2019, reaching an all-time high of 24.50% in November of 2011 and a record low of -5.36% in November of 2001.