Kampala, Uganda – June 1, 2024 – Uganda’s Consumer Price Index (CPI) experienced an uptick in May, climbing to 3.6% from the previous 3.2% recorded in April 2024. The data was updated on May 31, 2024, highlighting a year-over-year comparison for the month of May.
The CPI measures the average change over time in the prices paid by consumers for a basket of goods and services, making it a key indicator of inflation. This rise indicates that Ugandan consumers are now facing higher prices compared to the same month last year.
Economists are closely monitoring these changes as they can have significant implications for economic policy and consumer purchasing power. The increase from April to May suggests a continued upward trend in price levels, warranting attention from both policymakers and market participants.
