Agri-Business 

Friday, September 05, 2014 

Bumper crops drop Uganda inflation

PLENTIFUL: The need to raise prices was not there since supply was good.

KAMPALA, Uganda - The annual inflation for the month ending August has dropped to 2.8% compared to the 4.3% for the year ended July 2014.

 The Uganda Bureau of Statistics Director of Macro Economics Dr Chris Mukiza attributed the decline to the good supply of foodstuffs to various markets.

“The month ending August 2014 has been economic friendly to Uganda, because the price for the consumable items on the market has declined by 2.8% as compared to the previous months in 2014. This is attributed to the reduction in the annual food crops inflation that decreased to 1.5%f or the year ending August 2014 as compared to the 12.9% for the year ended July in 2014,” Mukiza told a news conference recently.

However he clarified, “The reduction of 2.8% does not mean that prices for food items went down, but the what reduced is the rate at which prices went up as compared to the months annually” he said.

By Samuel Nabwiiso, Friday, September 05th, 2014