Macroeconomic Forecast Uganda

July 2008 | Macroeconomic Forecasts

Uganda witnessed its largest annual inflation growth reading in over two years, posting CPI growth of 12.4% y-o-y, up from 11.2% y-o-y the previous month. This reading - the highest since April 2005 which saw headline growth of 12.6% y-o-y - was driven by the persistent elevation of food and energy prices - two trends we can expect to persist in the short-to-medium term - with the core index (which excludes food crops) up by 12.0% y-o-y. As such, we are revising up our year-end inflation forecast to

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