Uganda inflation rises to three-year high as shilling slump fuels price pressures

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30.10.2026

Uganda inflation rises to three-year high as shilling slump fuels price pressures — Uganda inflation at 3-year high

Uganda's consumer inflation accelerates to 5.8% in October, the fastest annual pace in more than three years as the weaker shilling and higher oil and food costs push up prices. The increase comes after the central bank tightens monetary policy earlier this month in an effort to contain inflation and support the currency.

Highlights

Ugandan shilling has fallen nearly 15% against the dollar since June, reaching about 4,245 per dollar compared to 3,614.50 at end-2025.
Central Bank of Uganda has intervened in the forex market to support the shilling amid rising imported price pressures.
Uganda inflation has hit a three-year high, intensifying economic pressure on households and prompting policy responses to stabilize prices and currency.

Currency weakness adds pressure to economy

According to Reuters, the shilling has fallen by almost 15% against the dollar since June, trading at about 4,245 per dollar on Friday compared with 3,614.50 at the end of 2025. The currency's decline has added to imported price pressures in an economy sensitive to fuel and food costs.

Local traders say the central bank has also intervened in the foreign exchange market to provide additional support for the currency. The latest inflation trend underscores growing pressure on households and policymakers as Uganda seeks to stabilize prices and the exchange rate.

In our previous report on the IMF’s updated outlook for sub-Saharan Africa, we noted that growth projections improved for 2026, but the inflation path worsened, raising the likelihood of a firmer monetary policy stance across the region. The analysis also highlighted mounting debt-service burdens, tighter global financing conditions, and climate-related risks such as El Niño that could further lift food prices and strain external buffers.

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