2024 INFLATION UPDATE ANNUAL INFLATION RECORDED AT 3.3%

The Uganda Bureau of Statistics (UBOS) has revealed that prices of goods and commodities in the year ending December 2024 were high. UBOS reports a steady increase in inflation, which has contributed to the rising cost of living. The data released provides an overview of the monthly consumer price indices and inflation from November 2023 to December 2024. The annual inflation report from November 2023 to December 2024 by the Uganda Bureau of Statistics recorded an inflation rate of 3.3%, primarily driven by services inflation. The rising expenses on services contributed significantly to the overall increase in inflation, leading to a higher cost of living. Masaka City recorded the highest inflation rate of 5.1%, which was attributed to an increase in food and non-alcoholic beverages.