Inflation To Peak in H2

August 2008 | Economic Analysis

Despite the recent easing in global food and energy prices, Ugandan inflation has continued to accelerate in July, with headline prices growing by 13.7% y-o-y. Exposed to external movements in energy and food prices, and with limited effectiveness of monetary policy, the country will remain at risk form global price spikes. Nevertheless, we expect global commodity prices to ease during H208, and have pencilled in end-08 inflation of 11.5%.

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