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Tag Archives: inflation

Uganda’s inflation rises to 7.9 pct in July

Kampala, Uganda | Xinhua | Uganda’s inflation rate for the year ending July has risen to 7.9 percent from 6.8 percent in the year ending June 2022, the country’s statistics agency said Friday. Uganda Bureau of Statistics attributed the increase to rising food crop prices and transport fare. During the …

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Inflation is rising

Here’s why, and how to fix what is driving it up based on what is being experienced in Kenya COMMENT | XN IRAKI | Inflation has hit many countries recently, from the United States to Sri Lanka. In Kenya, too, the rising prices of basic commodities have left most citizens …

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Banking industry to develop long term export credit facility

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

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Tororo Cement workers go on strike demanding salary enhancement

Tororo, Uganda | THE INDEPENDENT | Dozens of Tororo cement workers laid down their tools Monday to compel the management to enhance their salaries given the high inflation. The workers, mainly from the kiln section comprising of electricians, mechanics, lab technicians, and production staff want the management to increase their salaries …

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Euro falls below parity against U.S. dollar

Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …

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KACITA calls for reduction of central bank rate

Kampala, Uganda | THE INDEPENDENT | Kampala City Trader’s Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate that is used by the Central bank to implement or signal its monetary policy stance. It is …

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