Food Prices Push Annual Inflation Down to 4.9 Percent

The prices of goods and services fell further in the month of June due to the increase in food harvests on the market. The prices of Irish potatoes, pineapples, sweet potatoes, plantains, milk, and sugar dropped.

Annual Food Inflation decreased to 7.1% for the year ending June 2014 from the 8.2% for the year ended May 2014. The Uganda Bureau of Statistics (Ubos) announced on June 30 that core inflation, the measure of the changes in prices of goods and services less food crops and electricity, dropped to 2.7 per cent in June from 3.3 per cent registered in May.

Headline inflation, which measures general changes in the prices of goods and services, dropped to 4.9 per cent in the year to June, from 5.4 per cent May. Bank of Uganda’s core inflation target is 5 per cent. The financial year 20132014 registered a 6.7% average annual headline inflation compared to 5.6% that was recorded for the financial year 20122013.

Source : The Independent

Leave a Reply


Global Markets Sluggish Wednesday

Asian markets were mixed Wednesday as optimism over a potential coronavirus vaccine earlier this week steadily begins to fade. The Nikkei index in Tokyo gained nearly 162 points to finish 0.7% higher, while Sydney’s S&P/ASX, the KOSPI in Seoul and Taiwan’s TSEC index had all earned 0.4% by late afternoon. Hong Kong and Shanghai were […]

Asian, European Markets Begin Week with Significant Gains

Asian markets are on the rise Monday as more and more nations continue to slowly emerge from the lockdowns imposed to halt the coronavirus pandemic. Tokyo’s Nikkei index closed 0.4% higher, despite news earlier in the day that Japan had technically fallen into recession for the first time since 2010 after two straight quarters of […]