KAMPALA, June 29 (Xinhua) -- Uganda's statistics agency said Friday the country registered a drop in inflation to 3.4 percent in the financial year ending 2017/18 compared to the 5.7 percent recorded in the financial year 2016/17.
Uganda Bureau of Statistics attributed the drop to the decline in prices of processed food that dropped to 4 percent in 2017/18 compared to 9.1 percent the previous year.
Food crop inflation dropped to 3.2 percent in 2017/18 compared to the 12.4 percent the previous year.
The financial year 2017/18 ends June 30.
Meanwhile the country's year on year inflation for June rose by 0.5 percentage point to 2.2 percent compared to the year that ended May 2018. The rise is on account of the increase in the annual energy, fuels and utilities (EFU) inflation that rose to 15.1 percent for the year ending June compared to 10.3 percent recorded in the year ended May 2018.
Annual core inflation, which excludes EFU declined to 0.9 percent in June compared to 1.1 percent recorded during the year ended in May 2018.
