Uganda Inflation (CPI, ann. var. %, eop)

January’s inflation accelerated to 10.4% (December: 10.2%). The increase was largely due to a base effect stemming from January 2022´s drop in transport fares. However, the Bank of Uganda (BoU) maintained the policy rate at 10.00% at its 6 February meeting. Inflation will ease from current highs this year, but will remain above the BoU’s 5.0% target.