Uganda inflation hits 3-year high
Ugandas annual inflation rate rose to a three-year high of 5.8 percent in October following a sharp currency slump and higher food and oil prices. The data may prompt the central bank to further raise interest rates at its upcoming meeting.
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Uganda's inflation rate rose to a 3-year high of 5.8% in October, driven by a weakening currency and surging food prices. The year-on-year rise compared with a 4.6% rate the previous month, marking the fastest pace of price growth since June 2023. Investors face mounting currency risks as the central bank weighs aggressive policy tightening to defend the local shilling.
