Uganda’s Inflation jumps to 3.2%

Uganda’s Inflation rate for the month of February has been recorded at 3.2 percent from 2.7% registered in January.

This is on account of increase in prices of commodities under education services, furnishings, household equipment, restaurant and accommodation services, clothing and footwear, and transport.

While announcing the consumer price indices and inflation report, the principal statistician at the Uganda Bureau of Statistics Edgar Niyimpa, revealed that there were reductions in prices of commodities under food and non-alcoholic beverages, health, Information Communication Technology , Tobacco and narcotics.

The core inflation for the 12 months to February 2022 increased to 3.1 in February 2022, up from 2.3 percent registered in January 2022, according to the Uganda Bureau of Statistics.

The increase is attributed to annual Other Goods Inflation that increased to 5.1 for the 12 months to February 2022 up from 4.3 in January 2022.

The annual Energy Fuel and Utilities Inflation (EFU) increased to 7 percent, up from 6.5 percent in January 2022.

The increase in EFU Inflation, according to the UBOS, was due to annual Liquid Energy fuels that increased to 25.2 percent in February 2022 up from 22.6 percent in January. Specifically, annual petrol inflation increased to 34 percent in February 2022 up from 30.5 percent registered in January 2022.

The Monthly Headline Inflation for February  increased by 1% compared to the 0.3% drop in Jan 2022. This was due to the monthly Education Services inflation that rose by 8.4% Furnishings, Household Equipment by 3.7%.

However, Information and Communication monthly inflation decreased by 0.7% in February compared to 0.1%  in January, while ‘Transport’ monthly Inflation registered 0.0 percent in the month of February compared to the 5.3 percent drop recorded in January 2022.

Regionally, the highest inflation was recorded in Gulu at 4.4% as compared to 4.5% recorded in January. The least inflation however was recorded in Jinja at 1.6% in Feb 2022.