The annual inflation rate in Uganda rose to 4.1% in June of 2020 after hitting a seven-month low of 2.8% in the prior month. This was the highest rate since October of 2017, mainly pushed up by transport prices (14.6% vs -0.4% in May), in particular transport services (34.2% vs -0.3%), as taxi and bus operators have raised fares after the ban on transport in border districts was lifted. In fact, Uganda's President Yoweri Museveni declared a nationwide lockdown and ban on public transport in late March to curb the spread of the novel coronavirus. On the other hand, inflation continued to ease mostly for food & non-alcoholic beverages (1.9% vs 2.6%); housing & utilities (6.5% vs 6.8%); furnishings (3.1% vs 3.7%); alcoholic beverages & tobacco (0.8% vs 1.8%) and education (1.1% vs 5.3%). On a monthly basis, consumer prices inched up 1.2%, after dropping 0.1% in the previous month.
Inflation Rate in Uganda averaged 6.14 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 July of 2020.
Inflation Rate in Uganda is expected to be 4.60 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 4.00 percent in 2021 and 4.30 percent in 2022, according to our econometric models.