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.
Uganda Central Bank Rate (%, eop) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Central Bank Rate (%, eop) | 9.50 | 10.00 | 9.00 | 7.00 | 6.50 |