Commodity prices on the rise, Ubos data shows 

Prices of major goods are beginning to increase again, threatening a recovery in purchasing power and economic growth. 

In the 12 months to April, Uganda Bureau of Statistics (Ubos) data indicates that fuel, a key driver of inflationary pressures, registered increases, with a litre of petrol rising by 6.9 percent from Shs5,086 to an average of Shs5,457, while diesel rose by 0.5 percent to Shs5,117 from Shs5,089 per litre.  

Other commodities that continue to register an increase in prices include mukene or silverfish, whose price has increased by Shs3,560 for every kilogramme to  Shs18,831 from Shs15,271.  

The price of onions has almost doubled in the 12 months, with a kilogramme now going for Shs5,852 from Shs2,880 in April 2023, while pineapples have seen their price increase from Shs1,462 to Shs1,805. 

However, some commodities, whose prices had escalated last year, are beginning to reduce with laundry soap and refined cooking oil being the most outstanding. 

During the 12 months the price of a bar of laundry soap has reduced by Shs505, dropping from Shs6,371 in April last year to Shs5,866, while the cost of refined cooking oil has reduced from Shs9,442 to Shs8,882 a litre. 

The price movements have, therefore, impacted the general outlook of inflation, which in the 12 months to April slightly increased to 3.5 percent from 3.4 percent, largely due to an increase in the price of seafood (fish), even as it remains below the 5 percent Bank of Uganda target. 

Bank of Uganda has, however, previously projected that, if not tamed, inflation is likely to increase above target in the third quarter of 2024. 

Ms Kaudha Aliziki Lubega, the Ubos director for macroeconomic statistics, said while releasing the consumer price index in Kampala that during the period fish and other seafood inflation rose to 16.5 percent from 10.1 percent, while prices of particularly dried mukene increased by 28.8 percent compared to 6.9 percent in March. 

Refined oil prices registered a negative inflation of - 8.6 percent compared to -14.1 percent in March, while chicken prices increased by 3.6 percent compared to 0.3 percent.  

During the period, Ms Aliziki noted that the price of hotel and lodging accommodation rose, increasing by 7.6 percent compared to 1.9 percent in March, while food crops and related items inflation, however, decreased to - 2.4 percent from 0.4 percent. 

Energy fuel and utilities inflation increased to 7.9 percent due to a rise in electricity charges by 1.4 percent and a 6.9 percent increase in petrol prices. 

Ubos data also indicates that the price of charcoal, which is a key cooking component in many urban and rural areas, increased by 18.8 percent. 

Price changes in 12 months to April 2024 

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