Food stuffs in Nakasero Market Kampala Uganda

According to the Uganda Revenue Authority Commissioner in charge of customs, Richard Kamugyugo, this comes at a time when harvests are being made by farmers following a long drought period which forced the prices to rise.

Kamugyugo re-affirms that govt has not increased taxes for the past years but has been surprised by the rapid commodity price increment.

However, he maintains that there are no intentions by govt to slash taxes on imported goods as it was done by neighbouring Kenya saying if it will cause a great impact on the country’s economy.

The authority confirms that government collects UGX.700 billion  as taxes from oil in a year.

The post Inflation and food prices in Uganda to reduce-URA first appeared on Uganda Multimedia News & Information.

Food stuffs in Nakasero Market Kampala Uganda

The Uganda Bureau of Statistics has released indicators showing Uganda registered a reduction in food prices due to increased supply of food stuffs in the country.

According to data from UBOS, there has been more production of food stuffs which reduced the inflation rate to 3.2 percent this month from 4.2 percent last month.

Foods like vegetables and fruits registered price reductions while Fish, Fresh Milk and bread registered increases in various centers.

UBOS principal statistician for price, Vincent Nsubuga Musoke says some price increases were as a result of increase of inputs but reductions are as a result of increased production.

By Ultimate Media

The post Food prices in Uganda reduce due to increased production first appeared on Uganda Multimedia News & Information.