The Government’s intervention to transport bulk fuel into the country has helped to stabilize and lower fuel prices, the Uganda Bureau of Statistics (UBOS) has revealed.

The Consumer Price Indices and Inflation report released on Thursday by UBOS for the year ending October 2024 indicates that the annual energy, fuel, and utilities inflation recorded at 3.3% down from 4.5% recorded in the ending in September 2024.

Samuel Echoku, the Head of Macroeconomic Statistics at UBOS highlighted that the Government’s move into this business line to control tricks employed by middlemen that always caused the hiking of fuel prices has stabilized price operations for this commodity.

Echoku says the reduction in liquid energy fuels, with inflation dropping to minus 5.4%, was driven mainly by lower petrol and diesel prices, which decreased by 5.9% and 7.5%, respectively.

He has however said solid fuels experienced an increase, with inflation rising to 15.5%, primarily due to a 17% rise in charcoal prices.

Meanwhile, UBOS has reported a decline in the annual inflation level to 2.9%, for the year ended October 2024 from 3.0% in the year ended September.

By Charles Katabalwa

31 Oct 2024

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