Friday, October 1, 2021

Daily MonitorBusinessCommodities Increase in commodity prices pushes up inflation

 

Clothes, which combine garments and textile materials remain some of the most smuggled commodities, according to URA. PHOTO/FILE

Summary

  • Petrol per litre rose from average of Shs3,866 in September 2020 to Shs4,190 in September 2021, reflecting an 8.4 per cent increase.
By MARTIN LUTHER OKETCH

Increase in commodity prices has pushed up inflation for the 12 months ended September 2021. 

According to Uganda Bureau of Statistics (Ubos) inflation rose to 2.2 per cent in September up from 1.9 per cent August. 
Ms Kaudha Aliziki Lubega, the Ubos head macroeconomic statistics, said yesterday the increase was mainly driven by the rise in the commodity prices such as food and non-alcoholic beverages, which rose to 2.9 per cent.

During the period, she said, furnishings household equipment and routine household inflation rose to 3 per cent while personal care, social protection and miscellaneous goods inflation rose by 2.9 per cent.

However, there were some decreases in the prices of the commodities under transport by 4.8 per cent while clothing and footwear declined by 1 per cent. 

Recreation, sport and culture inflation decreased by - 0.4 per cent. 

Ubos also indicated that national average retail prices of selected commodities over the last 12 months had registered mixed prices with some rising while others remained unchanged. 

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Petrol per litre rose from average of Shs3,866 in September 2020 to Shs4,190 in September 2021, reflecting an 8.4 per cent increase.

Diesel a litre moved from Shs3485 to Shs3,764, representing an increase of 8 per cent while taxi fares - special hire fell from Shs25,000 in September 2020 and to Shs23,333 in August, 2021 before rising again to Shs25,000 in September 2021. 

A kilogramme of banana (matooke) rose from Shs595 in September to Shs694 in September 2021 while a kilograme of beans decreased from Shs3, 983 in September 2020 to Shs3,007 in September 2021. 

A kilogramme of maize flour dropped form Shs2,808 in September 2020 to Shs2,635 while a kilogramme of laundry soap increased from Sh3,415 in September 2020 to Shs3,610.

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