November Inflation Rises by 0.2%, Driven by Matooke and Pineapple Prices

Uganda’s monthly inflation for November 2024 increased by 0.2%, marking a slight rise from the 0.5% recorded in October, according to the Consumer Price Index (CPI) report released by the Uganda Bureau of Statistics (UBOS).
This uptick was largely attributed to the soaring prices of matooke and pineapples, which rose by 9.0% and 20.7%, respectively.
Tomato prices also climbed by 5.3%, while passion fruits saw an increase of 8.8%. These food items, essential to the average Ugandan household, have significantly impacted consumer budgets.
Speaking during a press briefing at UBOS offices, Alizik Lubega, Director of Macroeconomics at UBOS, explained the seasonal nature of food crops and their influence on inflation trends.
“Food crops and related items are seasonal; some seasons are favorable, while others are not. This variability plays a critical role in price fluctuations,” Lubega said.
The data further highlighted specific price changes between October and November. A kilogram of matooke, previously selling at Shs 1,084 in October, rose to Shs 1,122 in November.
Pineapples experienced an even steeper jump, with a kilogram increasing from Shs 1,516 to Shs 1,684. Similarly, the cost of tomatoes grew from Shs2,143 to Shs 2,232, while passion fruits went from Shs 6,976 to Shs 7,332 per kilogram.
Despite the monthly inflation rise, the annual headline inflation for the 12 months ending November 2024 remained steady at 2.9%, unchanged from October.
Economists suggest that this stability in annual inflation reflects the resilience of other economic sectors, even as food prices fluctuate.
Economists advise consumers to make informed decisions amid rising food prices. “Households should consider diversifying their food consumption patterns to include less seasonal and more affordable options. This can cushion them from the financial strain caused by price surges in certain items,” commented Phiona Nantume, an independent economist.
Moreover, policymakers are encouraged to explore measures that stabilise food prices through investment in agricultural infrastructure and storage facilities.
These interventions could mitigate the effects of poor harvest seasons and ensure a consistent supply of key food items.
While the rise in inflation might seem marginal, it underscores the importance of monitoring food price trends, which play a central role in Uganda’s overall cost of living.
Both consumers and policymakers need to adapt to these economic realities to maintain financial stability.