Economy

Economy

Business conditions strengthen in February

The Stanbic Bank Uganda PMI jumped to 54.2 in February as output, employment, and new orders all rose across monitored sectors
High-angle view of an expansive industrial warehouse showing systematic stock accumulation in yellow bins and tiered racking.
CommoditiesEconomyEnergy, Oil & Gas

Uganda faces higher fuel costs as US-Iran war roils oil markets

Uganda faces dearer fuel imports and currency pressure as the US-Iran war pushes oil prices higher, but first oil in H2 2026 offers a longer-term upside
Rise in gasoline prices concept with double exposure of digital screen with financial chart graphs and oil pumps on a field. Stock photo.
Economy

Inflation eases as education costs moderate

Annual inflation fell to 2.9% in February from 3.2% as education and service cost pressures eased
An instructor and students at the International School of Uganda engage with 3D printing technology and laptops in a modern design laboratory in Kampala.
Economy

Uganda bonds draw strong demand as yields fall to near two-year lows

Investors accepted sub-coupon rates across all three tenors at February's auction, signalling a marked shift in sentiment towards Ugandan sovereign debt
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Economy

Bank of Uganda’s Monetary Policy Statement for February 2026: the full text

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
Economy

Bank of Uganda keeps rates on hold as inflation stays tame and growth holds firm

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap
The sun sets behind the unisphere during day five of the 2009 U.S. Open at the USTA Billie Jean King National Tennis Center on September 4, 2009 in the Flushing neighborhood of the Queens borough of New York City.
Economy

Private sector extends growth streak to a year

Uganda's PMI reading of 52.6 extended the private sector's growth streak to a year, despite some disruption from the election period
A polling station at an unknown location in Uganda
Economy

Inflation inches up to 3.2% on higher transport and service costs

January inflation rose to 3.2% as service costs jumped, offsetting easing food price pressures from December
Increasing piles of coins with a red arrow on a square patterned background.
Economy

Private sector growth gains momentum at year-end

Business conditions in Uganda’s private sector strengthened at the close of 2025, with growth edging higher in December according to the latest survey of purchasing managers
A flatbed lorry loaded with stacks of cement bags on a street in Jinja, Uganda.
Economy

Inflation holds steady at 3.1% as food prices climb

December's inflation held at 3.1% as rising vegetable and energy costs offset easing core price growth
Organised supermarket shelves displaying a variety of fresh vegetables including green peppers, cabbages, pumpkins, greens, and brassicas.
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