Uganda's Annual Inflation Rate Fell to 3.2% in July as Food Prices Dropped

Uganda’s annual inflation rate declined to 3.2 percent in July as food, gasoline and kerosene prices dropped, the Uganda Bureau of Statistics said.

Inflation slowed from a revised 4.2 percent in June, the bureau said in a statement handed to reporters today in the capital, Kampala. Prices fell 0.4 percent in the month, it said.

Food prices in the East African country declined 2.2 percent as the cost of products including bananas, beans, rice, sugar and corn flour declined in the month, the bureau said.

“The decrease in prices of some food items is mainly attributed to increased supplies to the markets,” it said.

Underlying inflation, which excludes food, fuel, electricity and metered-water costs, was unchanged in July at 4.6 percent, the statistics office said.

Uganda, with a population of 31 million and a $16 billion economy, is Africa’s biggest coffee exporter, according to the International Coffee Organization.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net.

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