BY STEVEN BARYEVUGA
Bank of Uganda has lit the mood of citizens heading for the festive season break as it announced a drop in inflation at the most perfect time imaginable.
In its latest Monetary Policy Statement for the last month of 2017, the central bank said there has been a marked decline in the rate of inflation. The annual headline inflation declined to 4.0% in November, down from 4.8% in October.
The decline is attributed to fall in food prices with food crops inflation declining to 2.3%, down from 7.9% in October 2017.
In a statement signed by Deputy Governor Louis Kasekende, annual core inflation also declined.
“Annual core inflation declined to 3.3% from 3.5% in October 2017, supported by the stability of the exchange rate in the last 12 months. Annual electricity, fuels and utilities (EFU) inflation also declined to 13.7% in November 2017 from 14.1% in October 2017,