Overview:
According to the Uganda Bureau of Statistics, Annual Core Inflation registered 3.8 percent in the year ending November 2024 compared to 3.9 percent that was recorded in the year ended October 2024. This was mainly due to Annual Services Inflation that recorded 5.9 percent in November 2024 compared to 6.2 percent registered in October 2024.
Uganda’s Annual Inflation as measured by the Consumer Price Index for the 12 months to November 2024 was 2.9 percent, the same rate registered in October 2024, statistics indicate.
According to the Uganda Bureau of Statistics, Annual Core Inflation registered 3.8 percent in the year ending November 2024 compared to 3.9 percent that was recorded in the year ended October 2024. This was mainly due to Annual Services Inflation that recorded 5.9 percent in November 2024 compared to 6.2 percent registered in October 2024.
“The main driver of services inflation was Passenger Transport Services Inflation that registered 2.4 percent in the year ending November 2024 compared to 3.8 percent registered in the year ended October 2024. The other driver was inpatient care services inflation registered 6.6 percent in the year ending November 2024 compared to 17.9 percent registered in the year ended October 2024,” UBOS Director of Economic Statistics Aliziki Lubega said in a statement.
She attributed the decline in transport inflation to falling fuel pump prices, including petrol and diesel. And for inpatient care, she said reduced childbirth costs were the main driver.
In addition, annual other goods inflation recorded 2.2 percent in the year ending November 2024 compared to 2.1 percent registered in the year ended October 2024.
This was mainly due to maize flour prices that registered minus 18.2 percent in November 2024 compared to minus 24.6 percent registered in October 2024 and Tilapia (fresh) prices that registered 17.2 percent in November 2024 compared to 10.6 percent registered in October 2024.
Annual Energy Fuel and Utilities (EFU) Inflation recorded 2.2 percent in the year ending November 2024 compared to 3.3 percent registered in October 2024.
This was mainly due to Liquid Energy Fuels Inflation that recorded minus 7.8 percent in the year ending November 2024 compared to minus 5.4 percent registered in the year ended October 2024, driven mainly by petrol and diesel prices that decreased in November 2024 by minus 9.4 percent compared to minus 5.9 percent in October 2024 and minus
8.3 percent compared to minus 7.5 percent in October 2024 respectively.
Kerosene prices decreased by minus
3.7 percent compared to minus 2.4 percent in October 2024.
In addition, Solid fuels inflation recorded 14.5 percent in November 2024 compared to 15.5 percent registered in October 2024 mainly due to Charcoal prices that increased by 13.9 percent in November 2024 compared to 17.0 percent recorded in October 2024 whereas firewood prices increased by 16.8 percent compared to 13.3 percent in October 2024.
Annual Food Crops and Related Items Inflation recorded minus 4.0 percent in the year ending November 2024 compared to minus 5.3 percent registered in the year ended October 2024. This was mainly attributed to a drop in the prices of Tomatoes (by minus 27.1 percent compared to minus 14.2 percent in October 2024), Carrots (by minus 11.2 percent compared to minus 4.7 percent in October 2024) and Fresh Leaf Vegetables – Nakati, Dodo, Bbugga prices increasing by 0.6 percent compared to 6.3 percent in October 2024, Bananas Standard (Bogoya) prices increasing by 1.1 percent compared to 5.7 percent in October 2024.