Uganda Inflation Rate Eases for 3rd Month

The annual inflation rate in Uganda decelerated for the third month to 2.9% in October 2024, down from 3% in the prior month and reaching the lowest since January.

Prices slowed down mostly for education (10.3% vs 12.1% in September); insurance & finance (2.6% vs 4%); miscellaneous goods & services (4.5% vs 4.9%) and alcoholic beverages & tobacco (2.2% vs 2.9%).

Concurrently, prices declined further for food & non-alcoholic beverages (-2.1% vs -1.5%).

On a monthly basis, consumer prices rose by 0.5% in October, after a 0.2% increase in the prior month.