Inflation up at 5.6%
Dec 01, 2002
THE price of goods and services in the country has continued to rise with the latest Consumer Price Index (CPI) for the month ending November showing inflation at 5.6%
THE price of goods and services in the country has continued to rise with the latest Consumer Price Index (CPI) for the month ending November showing inflation at 5.6%, reports Steven Odeu.
CPI is a measure of the changing cost of a fixed basket off goods and services consumed by households, and is used as a measure of inflation in the country.
The CPI released by the Uganda Bureau of Statistics (UBOS) on Friday indicates the Annual Headline Inflation Rate for the year ending November 2002, rose to 5.6% compared to 4.0% recorded for the year ended in October. Headline inflation is based on relative changes in prices for all goods and services.
The annual underlying inflation rate for the month ending November 2002, rose to 2.2% compared to 1.4% for the previous month.
Underlying inflation rate is based on relative changes for all goods and services excluding food crops. Excluding food crops minimises the effects of irregular long-term price fluctuations that are mainly induced by weather shocks.
“The rise in the rate of inflation is mainly due to increases in prices of food crops whose supply is largely determined by seasonal factors. The sharp increase in prices of staple foods, especially in Mbarara 34%, Kampala 16% and Jinja 14% was mainly due to the current heavy rains,†said UBOS director of Macro statistics Matthew Sewanyana.
Inflation has risen for the last three months.
CPI is a measure of the changing cost of a fixed basket off goods and services consumed by households, and is used as a measure of inflation in the country.
The CPI released by the Uganda Bureau of Statistics (UBOS) on Friday indicates the Annual Headline Inflation Rate for the year ending November 2002, rose to 5.6% compared to 4.0% recorded for the year ended in October. Headline inflation is based on relative changes in prices for all goods and services.
The annual underlying inflation rate for the month ending November 2002, rose to 2.2% compared to 1.4% for the previous month.
Underlying inflation rate is based on relative changes for all goods and services excluding food crops. Excluding food crops minimises the effects of irregular long-term price fluctuations that are mainly induced by weather shocks.
“The rise in the rate of inflation is mainly due to increases in prices of food crops whose supply is largely determined by seasonal factors. The sharp increase in prices of staple foods, especially in Mbarara 34%, Kampala 16% and Jinja 14% was mainly due to the current heavy rains,†said UBOS director of Macro statistics Matthew Sewanyana.
Inflation has risen for the last three months.