Inflation drops as fuel prices go down

The Uganda Bureau of Statistics (Ubos) has said the country’s inflation rates are decreasing following a reduction in the fuel prices.

The Director of Economic Statistics at Ubos, Ms Kaudah Aliziki Lubega, said whereas the country is currently experiencing a double digit inflation of 10.7 percent, there is a decrease in the rate due to a reduction in the price of some key products, particularly fuel.

She said this during the launch of the national statistics week in Kampala yesterday.

“All countries were hit by Covid-19 but when you look at the gross domestic product for the year 2021/22, the country registered a growth of 4.7 percent. This growth has been spurred by the manufacturing sector. Therefore, the current double digit inflation can be managed if people can produce food items which can be brought onto the market because the inflation is not driven by the service bit,” Ms Aliziki said.

“Throughout this statistics week, we are undertaking various surveys such as the agricultural survey, the Uganda business inquiry and the international survey in trade statistics,” she added.

The statistics week, which started yesterday, shall reach the climax on November 18 with the unveiling of the statistics findings from the ongoing annual agricultural survey.

The Director of Digital Solutions and Data Capability at Ubos, Mr James Kizza, said the statistics week will also give a platform to showcase how technology can be used to collect and produce statistics more efficiently compared to the manual systems.

Mr Godfrey Nabongo, the Ubos’s deputy director,  said the statistics week will enable the bureau to close all the data gaps and provide the needed statistics to inform the public and other development partners about the performance of different sectors.

“The role of the bureau is to ensure that we produce any statistical information that may be needed in the decision-making in all sectors,” Mr Nabongo said.

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