The annual inflation rate in Uganda slowed to 2.8 percent in May of 2020 from 3.2 percent in the previous month. It was the lowest inflation rate since last October, mainly due to prices of food & non-alcoholic beverages (2.6 percent vs 4.8 percent in April) and clothing & footwear (2.6 percent vs 3.1 percent). Meantime, costs continued to decrease for transport (-0.4 percent vs -0.7 percent) and communication (-4 percent vs -8.8 percent). Conversely, inflation quickened for housing & utilities (6.8 percent vs 6.6 percent), on account of charcoal prices (28.5 percent vs 28.1 percent). On a monthly basis, consumer prices edged down 0.1 percent, after surging 1 percent in the previous month.
Inflation Rate in Uganda averaged 6.15 percent from 1998 until 2020, reaching an all time high of 24.50 percent in November of 2011 and a record low of -5.36 percent in November of 2001. This page provides - Uganda Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Uganda Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
Inflation Rate in Uganda is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Uganda to stand at 3.10 in 12 months time. In the long-term, the Uganda Inflation Rate is projected to trend around 4.00 percent in 2021 and 3.00 percent in 2022, according to our econometric models.