Inflation
What the Bank of Uganda’s rise to 12 per cent means for the shilling, fuel and loans
How the Bank of Uganda's increase in its policy rate to 12 per cent could affect the shilling, pump prices, and existing loans and savings
Bank of Uganda raises benchmark rate to 12 per cent at special meeting
Uganda’s central bank lifted its rate to 12 per cent, the largest increase since 2011, and raised its inflation forecasts as the shilling weakened
Shilling breaches Shs4,000 with reserves nearly double their 2024 level
Uganda's reserves are 86.6 per cent above their February 2024 level, yet the central bank says it plans no dollar sales as the shilling weakens
Food and fuel push Uganda’s inflation to its highest since 2023
Annual inflation rose to 4.6 per cent from 4.1 per cent as matooke rose 16 per cent in a month and petrol and diesel stayed 30.9 and 42.5 per cent above last year
Fuel prices push inflation higher in May
Headline inflation edged up in May as energy and transport costs climbed sharply amid higher global oil prices
Bank of Uganda’s Monetary Policy Statement for May 2026 — Full text
Monetary Policy Committee keeps rates on hold for a seventh consecutive meeting but raises its inflation outlook as fuel costs begin feeding through
Rising energy prices push inflation higher in April
Inflation rose to 3% in April as fuel and transport costs increased, highlighting growing energy-driven price pressures
Inflation dips despite fastest rise in fuel costs in over a year
Uganda’s March inflation eased to 2.8% as core and food prices offset a sharp rise in energy costs
Inflation eases as education costs moderate
Annual inflation fell to 2.9% in February from 3.2% as education and service cost pressures easedMore Inflation
Bank of Uganda’s Monetary Policy Statement for February 2026: the full text
The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap
Bank of Uganda keeps rates on hold as inflation stays tame and growth holds firm
The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap
Inflation inches up to 3.2% on higher transport and service costs
January inflation rose to 3.2% as service costs jumped, offsetting easing food price pressures from December
Inflation holds steady at 3.1% as food prices climb
December's inflation held at 3.1% as rising vegetable and energy costs offset easing core price growth
Manufacturer prices hold steady as decline in electricity prices slows
A gauge of industrial producer prices continued to accelerate in October as manufacturer prices firmed and the pace of decline in electricity prices moderated
Inflation falls for second consecutive month to 3.1%
Inflation slowed to 3.1 per cent in November, reflecting a cooldown in the prices of food items and crops, according to figures from the Uganda Bureau of Statistics
Bank of Uganda’s Monetary Policy Statement for November 2025: the full text
The central bank's decision reflects its confidence in the improving domestic economic environment, while also acknowledging the ongoing risks posed by the global economy
Core CPI rises at slowest pace in 19 months
Core consumer prices, which exclude volatile food and energy costs, rose 3.4 per cent in October from a year earlier—the slowest pace since April 2024
Stronger currencies ease inflation pressures across sub-Saharan Africa
Strong currencies have helped curb inflation in several sub-Saharan African countries, giving central banks room to ease interest rates and stimulate business activity
Inflation ticks up, but underlying prices are muted
Inflation picked up pace in September, rising to its highest level in 14 months, driven by a surge in food crop and related item prices