Overview:
According to the UBOS report, Annual Core Inflation registered 4.2 percent in May 2025, up from 3.9 percent in April. The "Other Goods" category was a significant driver, climbing to 3.8 percent from 3.0 percent. This was largely influenced by notable price increases in key commodities.
Uganda’s Annual Headline Inflation has edged up to 3.8 percent in the 12 months leading to May 2025, a slight increase from the 3.5 percent recorded in April 2025. This rise, as reported by the Uganda Bureau of Statistics (UBOS) in its latest Consumer Price Index (CPI) press release, is primarily attributed to increases in Annual Core Inflation, particularly in “Other Goods” and “Food Crops and Related Items.”
According to the UBOS report, Annual Core Inflation registered 4.2 percent in May 2025, up from 3.9 percent in April. The “Other Goods” category was a significant driver, climbing to 3.8 percent from 3.0 percent. This was largely influenced by notable price increases in key commodities.
“Beef prices saw a substantial rise, increasing by 16.3 percent in May 2025 compared to 10.1 percent in April 2025,” the report stated. Additionally, “Maize Flour prices registered 7.4 percent in May 2025 compared to 0.2 percent recorded in April 2025,” and “Fish and other seafood inflation registered 8.1 percent in May 2025 compared to 3.1 percent recorded in April 2025.” Sugar prices, while still in negative territory, showed a less severe decline, registering minus 4.0 percent in May compared to minus 10.8 percent in April.
The “Annual Food Crops and Related Items Inflation” also contributed significantly to the overall increase, reaching 4.3 percent in May 2025 from 2.4 percent in April. This surge was primarily due to a sharp rise in the prices of staple foods. “Cooking Bananas (Matoke) increased by 29.8 percent compared to 2.9 percent in April 2025, and Sweet potatoes prices rose by 27.8 percent compared to 14.5 percent in April 2025,” the UBOS report highlighted.
Conversely, “Annual Energy Fuel and Utilities (EFU) Inflation” recorded a decrease of minus 0.9 percent in May 2025, down from 0.0 percent in April. This was largely due to a deceleration in the increase of charcoal and firewood prices, and continued decreases in liquefied gas (propane), kerosene, petrol, and diesel prices.
Geographically, Masaka center registered the highest annual inflation at 5.3 percent in May 2025, driven by a significant increase in “Food and Non-Alcoholic Beverages” inflation to 10.2 percent. Kampala High Income group followed with 4.8 percent annual inflation, also largely propelled by food price increases. In contrast, Mbale Centre recorded the lowest annual inflation at 0.5 percent, primarily due to a negative annual inflation in “Food and Non-Alcoholic Beverages.”
Monthly Headline Inflation remained stable at 0.5 percent in May 2025, mirroring the rate registered in April. This was driven by a rise in monthly Core Inflation, particularly in “Other Goods” and “Food Crops and Related Items.”