MAY INFLATION: Consumer prices go up 0.2%
Monthly consumer prices edged up 0.2%, compared to 0.3% in the previous month, on account of what the Uganda National Bureau of Statistics says was a rise in transport fares that recorded a 1% rise in the month of May. This coupled with an increase in prices in sectors such as restaurant and accommodation services and education in the same month. Annual headline inflation has dropped 1.9% to 2.1%. Economic growth is gradually recovering according to gov’t and is expected to firm in the FY2021/22 with a growth projected at 3.0-3.5% in the FY2020/21, increasing to 4.0-4.5% in FY2021/22 and to 6.0-7.0% in the outer years.
