What explains rising commodity prices? | ON THE SPOT
For the ordinary Ugandan, the basic price of many commodities essential to the running of a home has gone up. Price increments in sugar, soap, bread and cooking oil have bolted harder a belt that had already been tightened by COVID19 measures. The President has attributed the rise in prices to the ongoing Invasion of Ukraine by Russia which has caused global supply chain problems but before that attack, the price of fuel had gone up threefold. The opposition through their shadow finance minister is asking the government to suspend taxes and digital tax stamps as an immediate measure to handle the crisis.
But what explains the inflation that many Ugandans are now having to live with? But an even better question is; how can it be resolved?
On the Spot, we hosted the shadow finance minister Muwanga Kivumbi and the head of economics at Makerere’s Business School, Dr Ronette Atukunda
