Inflation Uganda 2024
Average inflation: 3.3%
Current Inflation
Inflation is high at 3.3%, well above the ECB target.
Peak and Trough
The highest inflation was in July at 4.0%. The lowest inflation was in January at 2.8%.
- Highest month
- July: 4.0%
- Lowest month
- January: 2.8%
- Difference
- 1.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 6.2%. The lowest price increase was in Food with an average of -0.6%.
- Highest increase
- Core inflation: 6.2%
- Lowest increase
- Food: -0.6%
Historical Context
Current inflation is 1.0% lower than the 5-year average of 4.3%.
- 5-year average
- 4.3%
- 10-year average
- 4.4%
- All-time high (2011)
- 16.5%
- All-time low (2021)
- 2.2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +2.2 percentage point.
- Change vs. previous year
- -2.2 percentage points
- Largest monthly swing
- January: -7.6 percentage points
ECB Target
Inflation is 1.3% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 2.8% | -7.6 |
| February | 3.4% | -5.8 |
| March | 3.3% | -5.7 |
| April | 3.2% | -4.8 |
| May | 3.6% | -2.6 |
| June | 3.9% | -1.0 |
| July | 4.0% | +0.1 |
| August | 3.5% | 0.0 |
| September | 3.0% | +0.3 |
| October | 2.9% | +0.5 |
| November | 2.9% | +0.3 |
| December | 3.3% | +0.7 |
| Average | 3.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.