– Advertisement –
The Uganda Bureau of Statistics (UBOS) has released its monthly inflation report, revealing that the country’s annual inflation rate for the year ending February 2024 has primarily been driven by a surge in education expenses, particularly school fees.
According to the report, the annual inflation rate has escalated to 3.4 percent, up from the 2.8 percent recorded in January 2024. Alizik K Lubega, UBOS Director for Economic Statistics, emphasized during the report’s release at the bureau headquarters in Kampala that the increase in education services played a significant role in this inflationary trend.
Lubega explained that the education services category encompasses various aspects of education, including tuition, school supplies, food, and other related expenses. She noted a considerable increase in tuition fees at the beginning of the school year compared to the previous year, impacting prices across the entire education sector.
The timing of the UBOS report coincides with widespread concern over the high cost of school fees in Uganda, particularly in upscale institutions. Data indicates that these schools require an average of between 1.4 million and 3.3 million shillings, a financial burden for many Ugandan parents.
– Advertisement –
Education services are classified under the core inflation category, which significantly influences overall inflationary changes. In the year ending February 2024, core inflation reached 5.4 percent, up from 3.9 percent in January 2024. Specifically, education services inflation surged to 14.5 percent in February, compared to 6.1 percent in January.
Additionally, other sectors contributing to the rise in inflation include restaurants and accommodation services, which increased to 6.0 percent from 4.9 percent, and the transport services sector, registering at 2.5 percent compared to 1.8 percent in January.
The report also highlights changes in the annual inflation rates of various goods. While some goods saw increases, such as beef inflation rising to 9.1 percent from 3.0 percent, others experienced decreases, like maize flour dropping to minus 19.2 percent from 31.1 percent.
Related
– Advertisement –
