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Dev-News News Desk| East Africa. Urge- DevWire

Uganda's Fuel Price Surge Pushes Inflation Toward Central Bank Ceiling

Kampala, Uganda | 24 July 2026

The Uganda Bureau of Statistics reported, in data released 24 July, that headline inflation reached 3.7 percent for the twelve months to June 2026, up from 3.2 percent in May, driven principally by fuel costs linked to disruptions tied to the Middle East conflict.

Energy, fuel and utilities inflation rose to 11.9 percent for the year to June, up sharply from 9.1 percent in May. Pump prices have oscillated between 6,300 and 6,700 Uganda shillings per litre for petrol and diesel. Food crop inflation remained flat at zero percent, buffered by falling matooke, bean and onion prices.

The Bank of Uganda has held its Central Bank Rate at 9.75 percent, with Governor Michael Atingi Ego cautioning that further inflationary pressure is possible depending on weather effects on agriculture and the duration of Middle East hostilities. Inflation remains below the bank's medium term target of five percent, but the trend has been rising steadily since March.

Sources: Uganda Bureau of Statistics.

Dev-News Desk| East Africa. Urge- DevWire