Uganda, Jan 6 – It was quite an unfortunate record even with a beacon of hope for goods and services prices as increased, Uganda’s inflation rolled up the year 2017 at 5.6 per cent.
In relation to 2016, the inflation rate closed at 5.5 per cent, just 0.1 per cent margin between the two, that records the prices remained almost unchanged.
Low inflation gives businesses and consumers a reflecting term to make long-term plans as their purchasing power is limited.
For the past three years, the East Africa’s inflation has been closing on a significantly low rate. Most of this has remained stable as the plans by Bank of Uganda (BoU) to balance prices of goods and services remain a top priority.
BoU’s monetary policy has been the key factor dictating the course of inflation rate from the calendar year of 2015. Their main aim has to be controlling the country’s inflation at 5 per cent, and so far it is paying off.
The annual average headline inflation for the calendar year 2017 was recorded at 5.6 per cent compared to 5.5 per cent recorded during the calendar year 2016. Annual average core inflation for the calendar year 2017 was recorded at 4.4 per cent from 5.9 per cent recorded during the calendar year ended 2016