Ugandans Spent More on Food in FY 2013/14- UBOS

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In short
Currently, food crop prices are still falling as supplies continue to meet the demand in the markets. However, as has been the trend since 2012, July, August and September food crop prices sometimes increase.

Food crop prices weighed heavily on the pockets of Ugandan consumers in 2013/14 financial year, figures released by the Uganda Bureau of Statistics (UBOS) indicate.

During the financial year that ends today, food crop prices rose by 16.4percent, up from a rise of just 0.9percent in 2012/13.

The Ministry of Finance, Planning and Economic Development target was to keep inflation below single digits.  The rate averaged 6.7 for the year ending June 2014.

Vincent Musoke Nsubuga, a Principal Statistician at UBOS revealed that food crop prices were the largest contributor to the overall increase in the general average trend of prices in 2013/14.

//Cue in: The increase in inflation…
Cue out: …to increase//

In August and September 2013, UBOS noted that there were low supplies in the market due to a prolonged dry spell. Additionally during that period, the harvesting season was ending, meaning that the market was also low on supplies.

Notably, overall annual inflation hit its highest rate since August 2012 in September 2013 as food prices took their toll on consumers. Uganda’s farming still depends on weather patterns and any slight change could trigger an increase in prices, Nsubuga adds.

Currently, food crop prices are still falling as supplies continue to meet the demand in the markets. However, as has been the trend since 2012, July, August and September food crop prices sometimes increase.

Already some parts of the country like Mbarara and Ibanda are experiencing long spells of little or no rain, which has reduced on yields of matooke and milk production.
Prices on manufactured products rose at a much lower pace in 2013/14 by 5.1percent.

Manufactured products like Sugar and Cement had recorded declines in prices in the last financial year, according to UBOS. Prices on petroleum products, metered water and cooking gas also grew at three year low of 3percent. Petrol and Diesel prices have largely remained stable during the financial year