Uganda: Inflation eases to 18-month low
The annual pace of Uganda’s inflation eased in August to its lowest level since February 2022, the Uganda Bureau of Statistics said Thursday.
The annual pace of Uganda’s inflation eased in August to its lowest level since February 2022, the Uganda Bureau of Statistics said Thursday.
The Bank of Uganda (BoU) yesterday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective enough to control the rise in inflation, bring stability to the lending rate, and exchange rate, and drive economic growth.
Uganda's inflation rate for the year ending July has risen to 7.9 percent from 6.8 percent in the year ending June 2022, the country's statistics agency said Friday.
Uganda’s Central Bank has raised its benchmark policy rate by one percent to 8.5 percent in a radical move. This was occasioned by panic amidst surging inflation levels and increased pressure exerted by the US dollar against the local currency as a result of spikes in interest rates registered by developed economies.