Uganda Business News: Inflation reduced to 25%

Ultimate Media

The country’s annual headline inflation rate has continued to drop and is now at 25% this month from 27% in December last year.

This marks a steady reduction from 30% in October last year.

The Director Macro-economic statistics at the Uganda Bureau of Statistics Dr Chris Mukiza attributes the reduction in fuel prices and appreciation of the Uganda shilling.

Dr. Mukiza says the reduction in food prices from 20.4% to 13.7 percent also contributed to the decrease in the rate of inflation.

A senior statistician at the Uganda Bureau of Statistics Vincent Nsubuga says food stuffs whose prices decreased include matooke, sugar, fish potatoes and cassava among others.