Uganda inflation falls to 20.3% in April

Uganda’s year-on-year inflation fell for the second straight month in April to 20.3 percent from a revised 21.1 percent, due to slowing food prices, the statistics office said on Monday.

Uganda’s year-on-year inflation fell for the second straight month in April to 20.3 percent from a revised 21.1 percent, due to slowing food prices, the statistics office said on Monday.

The core rate of inflation also slid to 22.8 percent from 23.6 percent, the Uganda Bureau of Statistics (UBS) said. Month-on-month, the headline rate rose by 2.2 percent compared with a 0.4 percent increase in March.

UBS said that on a monthly basis, the core inflation rate increased by 1.2 percent from a 0.8 percent drop in March.

Annual food inflation dropped to 15.1 percent from 15.4 percent in the previous month, the statistics office said.

“A reduction in prices was registered for tomatoes, egg plants, green pepper and sugar mainly due to increased supplies to the market in most centres,” UBS said.

Policymakers will announce their decision on rates on May 2, after they held the key lending rate at 21 percent on April 2, citing food prices and a weak currency.

 

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