{{Uganda’s economy has posted single digit inflation this financial year.}}
According to Uganda Bureau of Statistics, the single digit inflation was a result of tight monetary policy coupled with increased food supplies to markets, eased inflation in the current financial year to a single digit, down from the double digit inflation witnessed in the 2011/12 Financial Year.
The statistics Bureau, said financial year-on-financial year inflation eased to an average of 5.6% in 2012/13 from an average of 23.5 % in 2011/2012.
Uganda had last witnessed single digit financial year-on-year inflation in 2010/11 when it was 6.5%.
Inflation is the general change in the prices of commodities and services over a certain period of time. So with high inflation, it means that one needs more money to pay for a similar basket of goods and services when compared to a similar period.
The average single digit inflation therefore means that although prices were high, there were no price increases registered.
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