KAMPALA, UGANDA – September's Consumer Price Index (CPI) for Uganda reflects a subtle yet notable decrease, dropping to 3.0% from the previous reading of 3.5% in August 2024, as reported on September 30th, 2024. This year-over-year comparison indicates a mild deflationary trend, addressing economic observers' attention on the possible factors contributing to this shift.
In August, the CPI stood at 3.5%, with the comparison being made against the same month in the previous year. The September update followed suit with the same methodological approach, indicating a slight easing of inflationary pressures when compared to the corresponding period in the prior year.
The new data suggests a relative slowdown in the rise of consumer prices, potentially alleviating some financial strain on Ugandan consumers. Analysts will be closely monitoring subsequent CPI trends to determine if this downtrend continues, guiding future economic policies and financial forecasting in Uganda.