The annual inflation rate in Uganda edged down to 4.6% in August of 2020 from 4.7% in the prior month. Prices slowed mostly for housing & utilities (3.7% vs 5.3% in July), of which energy fuels and utilities such as charcoal (13.6% vs 20.9%) and firewood (9.9% vs 14.2%). Inflation also decelerated for health (2.2% vs 3.1%); furnishings (2.7% vs 3.1%); recreation & culture (0.9% vs 1.5%) and miscellaneous goods & services (2% vs 2.6%). In contrast, prices rose faster for food & non-alcoholic beverages (1.7% vs 1.6%); clothing & footwear (1.9% vs 1.2%) and transportation (22.2% vs 20.5%), namely transportation services because of the bus fares that have more than doubled since the country started to lift lockdown restrictions. The annual core inflation rate went up to 5.9% in August from 5.8% in the prior month. On a monthly basis, consumer prices were up 0.3%, after increasing 0.1% in the previous month.
Inflation Rate in Uganda averaged 6.13 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 September of 2020.
Inflation Rate in Uganda is expected to be 4.50 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 3.50 in 12 months time. In the long-term, the Uganda Inflation Rate is projected to trend around 3.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.