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Inflation reaches 5.7%

By Vision Reporter

Added 31st October 2004 03:00 AM

THE annual headline inflation rate continued on an upward trend last month to 5.7% for the year ending October, 2004 from 5% in September, according to the Consumer Price Index released by the Uganda Bureau of Statistics (UBSOS) on Friday.

THE annual headline inflation rate continued on an upward trend last month to 5.7% for the year ending October, 2004 from 5% in September, according to the Consumer Price Index released by the Uganda Bureau of Statistics (UBSOS) on Friday.

By Doreen Kansiime

THE annual headline inflation rate continued on an upward trend last month to 5.7% for the year ending October, 2004 from 5% in September, according to the Consumer Price Index released by the Uganda Bureau of Statistics (UBSOS) on Friday.

“This is the highest level we have attained since the beginning of this calendar year because of the rises in almost all staple foods in various centres as well as fuel rises,” Mathew Ssewanyana, the UBOS director of macro-economics statistics told reporters at the release of the index at the finance ministry building. He said the price index had been high since July due to rising prices of staple foods.

Ssewanyana said the weather had also not favoured the situation since most areas received inadequate rainfall.

“We do not expect prices to go down in the immediate future because of the coming festivities, Idd in November and Christmas in December which usually lead to increase in prices of various goods,” he said.

The monthly inflation rate for October rose by 1.3% compared to 0.3% in September.

Inflation reaches 5.7%

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