The annual inflation rate in Uganda increased to 2.7 percent in January 2019 from 2.2 percent in the prior month. Prices rose faster mainly for housing & utilities (3.5% vs 3.3% in December); miscellaneous goods & services (3.9% vs 3.1%); recreation & culture (2.4% vs 1.9%); restaurants & hotels (1.8% vs 1.1%) and clothing & footwear (6.7% vs 5.5%). Also, inflation quickened for furnishings (4.3% vs 3.8%) and alcoholic beverages & tobacco (1.2% vs 1.1%). In contrast, cost slowed for transport (9.5% vs 9.8%); communication (5.5% vs 5.7%); health (1.7% vs 1.9%) while fell for food & non-alcoholic beverages (-1.5% vs -2.5%). On a monthly basis, consumer prices rose 0.2 percent, after decreasing 0.2 percent in the prior month. Inflation Rate in Uganda averaged 6.36 percent from 1998 until 2019, reaching an all time high of 24.50 percent in November of 2011 and a record low of -5.36 percent in November of 2001.
Inflation Rate in Uganda is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Uganda to stand at 5.60 in 12 months time. In the long-term, the Uganda Inflation Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.