Prices of food products increase by 9.7 percent
Fisheries products, according to Ubos, were among the food products that registered increases in prices. PHOTO | EDGAR R. BATTE
What you need to know:
- Notable increases were recorded in the prices of cereals, which rose by 16.3 percent while oil seeds and roots tuber rose by 8.4 percent and 2.6 percent, respectively.
Food prices, among which include crops, animal and fisheries products increased by 9.7 percent in the 12 months to January, according to data from Uganda Bureau of Statistics (Ubos).
The increase, Ubos indicates, was in part due to rise registered in September (8 percent), October (7.8 percent) and November (7.5 percent), which could have been a result of a spike in demand resulting from lifting of the lockdown in July.
While releasing findings of the annual producer price index for agriculture, Mr Ronald Soombwe, the Ubos principal statistician agriculture and environmental statistics, noted that the increase was mainly due to a spike in the price of animal products, which rose by 32.1 percent while crop products increased by 9.6 percent. Forestry products prices increased by 7.8 percent.
Notable increases were recorded in the prices of cereals, which rose by 16.3 percent while oil seeds and roots tuber rose by 8.4 percent and 2.6 percent, respectively.
Other increases were noted in tobacco (59.6 percent), bananas and plantains (17.9 percent) and tropical fruits, which rose by 12.8 percent.
However, declines were recorded. Rice prices dropped by 9.7 percent while citrus fruits dropped by 13.4 percent.
Leafy vegetables dropped by 9.1 percent while prices of leguminous crops and fruit vegetables declined by 13.6 percent and 9.8 percent, respectively.
The price of increases have been sustained into March forcing an increase in inflation, which during the month increased to 3.6 percent from 3.1 percent registered in February 2022.
However, the rise in inflation was also attributed to a cross section of price increase in services and related items, energy fuels and utilities inflation.
Ms Alikiza K Lubega, the Ubos of director economic statistics, said services inflation increased by 1.4 percent from 0.8 percent in February.
Other goods inflation increased by 5.4 percent up from 5.1 percent while food crops and related items inflation rose by 1.9 percent up from 0.7 percent, mainly driven by vegetables, tubers, plantains, cooking bananas and pulses inflation, which increased to 1.7 percent in March.
Round onions inflation increased to 42.9 percent in March up from 22.6 percent registered in February.
Energy Fuel and Utilities inflation increased to 8.5 percent, up from 7.0 percent due to solid fuels inflation, which increased to 2.5 percent in March up from - 0.8 percent in February while charcoal inflation increased to - 1.1 percent from - 6.7 percent.
