The annual inflation rate in Uganda rose to 3.6 percent in December 2019 from 3 percent in the previous month, reaching its highest level since September 2018. Main upward pressure came from cost of food & non-alcoholic beverages (2.5 percent vs 0.9 percent in November); housing & utilities (7 percent vs 5.9 percent) and miscellaneous goods & services (7.9 percent vs 7.7 percent). On a monthly basis, consumer prices were up 0.4 percent, after rising 0.3 percent in the prior month. Inflation Rate in Uganda averaged 6.21 percent from 1998 until 2019, 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.
Inflation Rate in Uganda is expected to be 3.20 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 3.80 in 12 months time. In the long-term, the Uganda Inflation Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.