Inflating Likelihood Of Stronger Shilling

July 2008 | Market Strategy

Uganda witnessed its largest annual inflation growth reading in over two years, posting CPI growth of 12.4% y-o-y, up from 11.2% y-o-y the previous month. This reading - the highest since April 2005 which saw headline growth of 12.6% y-o-y - was driven by the persistent elevation of food and energy prices, with the core index (which excludes food crops) up by 12.0% y-o-y, two trends we can expect to persist in the short-to-medium term..

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