Uganda Inflation Rate Hits Near 3-1/2-Year High

2026-11-03 16:40 By Luisa Carvalho 1 min. read

The annual inflation rate in Uganda picked up to 5.8% in October 2026, the highest since May 2023, from 4.6% in September.

Inflation has been rising consistently since April, reflecting the depreciation of the Ugandan shilling and higher fuel prices linked to the Middle East conflict.

Annual food crop inflation accelerated to 10.7% in October from 4.5% in September, driven by higher prices for dry beans, tomatoes, sweet potatoes, matoke and pineapples.

Energy, fuels and utilities inflation registered 15.4%, up from 14.5% in September, with petrol prices rising 34.3%, diesel 49.2% and firewood 15.5%.

The core inflation, which excludes volatile raw food and fuel, quickened to 4.4%, the highest since June 2023, from 3.7% previously.

On a monthly basis, the CPI rose by 1.1% in October, after a 0.9% increase in September.

The Bank of Uganda raised its policy rate by 225 basis points to 12% on October 14 to curb inflationary pressures intensified by the shilling’s sharp depreciation.



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Uganda Inflation Rate Hits Near 3-1/2-Year High
The annual inflation rate in Uganda picked up to 5.8% in October 2026, the highest since May 2023, from 4.6% in September. Inflation has been rising consistently since April, reflecting the depreciation of the Ugandan shilling and higher fuel prices linked to the Middle East conflict. Annual food crop inflation accelerated to 10.7% in October from 4.5% in September, driven by higher prices for dry beans, tomatoes, sweet potatoes, matoke and pineapples. Energy, fuels and utilities inflation registered 15.4%, up from 14.5% in September, with petrol prices rising 34.3%, diesel 49.2% and firewood 15.5%. The core inflation, which excludes volatile raw food and fuel, quickened to 4.4%, the highest since June 2023, from 3.7% previously. On a monthly basis, the CPI rose by 1.1% in October, after a 0.9% increase in September. The Bank of Uganda raised its policy rate by 225 basis points to 12% on October 14 to curb inflationary pressures intensified by the shilling’s sharp depreciation.
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