1. Home
  2. Stories
  3. Extractives
  4. Fish & Fuel

Mukene, fuel top April inflation drivers

PEDSON MUMBERE 30th Apr, 2024 Extractives
Mukene, fuel top April inflation drivers

Mukene traders drying their products at a fishing village on Lake Victoria.


The rising prices of fish and fuel were the main drivers of annual inflation as measured by the Consumer Price Index in April, according to the Uganda Bureau of Statistics (UBOS).

Speaking at a press briefing on April 30, officials stated that the price of dried Kapenta (Mukene) increased by almost 30% in April compared to 7% in the month before, while the price of fresh Tilapia increased by 15.6% in April compared to 5.8% in March.

According to UBOS, a kilogramme of mukene was selling at an average price of UGX18,831, up from UGX15,271 a year ago.

  • Mukene, which has over the years been dominant in Uganda's fish catches, is not only an important ingredient for animal feeds but also represents an affordable and nutrient-rich alternative to traditional protein sources for human beings.

The current acute scarcity of mukene in the country is being attributed to the recent government ban on certain fishing methods and restrictions on fishing silverfish (Mukene) and increased enforcement activities by the Fisheries Protection Unit (FPU) on Lake Victoria.

Additionally, the annual energy fuel and utilities inflation rose up thanks to the increase in the prices of electricity, petrol, and charcoal.

  • A litre of petrol is selling at an average price of UGX5,457, up from UGX5,086 a year ago, thanks to the depreciating shilling and the high price of crude oil on the international market.

A barrel of crude oil which was selling at $84.7 in April 2023 has been hovering over the $90 mark for most of April 2024.

Overall, the report shows that the annual inflation as measured by the Consumer Price Index (CPI) for the 12 months to April 2024 increased at a slower rate of 3.2% compared to 3.3% registered in the year ended March 2024.

CPI is a measure that tracks changes in the prices of a basket of goods and services typically purchased by households over time. It is one of the most commonly used indicators of inflation in an economy.

The CPI provides valuable insights into consumer spending patterns and inflationary pressures within different sectors of the economy. It helps policymakers such as the Central Bank to make informed decisions about monetary policy.

  • Alizik Lubega, the UBOS director of Economic Statistics, attributed the situation to annual core inflation that registered 3.5% in April 2024 compared to 3.4% registered in March 2024. "Other Notable price increases have been experienced in the area of domestic flight charges, hotel and accommodation, local brew, refined oil and cement among other things," Lubega said.
  • Amid the rising prices, the officials advised Ugandans to cut costs and only spend where necessary.

By geographical areas and income groups, Kampala High Income Centre registered the highest inflation of 4.5% for 12 months to April, which was driven by annual food and non-Alcoholic beverages prices.

The second annual inflation was registered in Fort portal at 3.4% compared to 5.0%, driven by annual clothing and footwear inflation that increased to 7.1%.

The least annual inflation was registered in Mbale center at 1.4%, driven by Annual insurance and financial services inflation that registered 2% increase.

Similar Posts You May Like 

  • Commonwealth Enterprise and Investment Council Chairman Lauds Uganda's efforts to increase trade and investment within member states

    Commonwealth Enterprise and Investment Council Chairman Lauds Uganda's effor..

    The Chairman of the Commonwealth Enterprise and Investment Council, Lord Jonathan Peter Marland has lauded the government of Uganda's effort to support trade and investment through collaboration with private sector associations such as the Uganda National Chamber of Commerce (UNCCI) and the Private ..

  • UKETA PARTNERS WITH IBANDA UNIVERSITY TO BOOST ONLINE LEARNING

    UKETA PARTNERS WITH IBANDA UNIVERSITY TO BOOST ONLINE LEARNING..

    UKETA, an online Learning platform has partnered with Ibanda University to enhance an alliance aimed at extending the skylines of soft skills education to both students and lecturers within the University. According to Daudi Bitature, Sales Operational Analyst, UKETA Learning platform, the aim of t..

  • NCBA Bank Powers Singleton Golf Challenge Semi Final

    NCBA Bank Powers Singleton Golf Challenge Semi Final..

    The bank injected Shs.60 million in the event in which amateur golfers from Uganda and Rwanda took part..

  • Will Wagagai open gold wealth kitty to all citizens?

    Will Wagagai open gold wealth kitty to all citizens?..

    Uganda is supposedly on the brink of significant economic transformation with the imminent commencement of production at Wagagai gold mining and refining facility in Alupe, Busia District. ..

  • Oil refinery deal awaiting FID, says Minister

    Oil refinery deal awaiting FID, says Minister..

    Ugandans seeking employment in the oil refinery in the Albertine Graben need to be patient as the negotiations go on, Hon. Okasaai Opolot, the State Minister for Energy, has said. ..

  • Uganda fast-tracking oil refinery deal - Nankabirwa

    Uganda fast-tracking oil refinery deal - Nankabirwa..

    The Ugandan government is accelerating negotiations with Alpha MBM Investments of the United Arab Emirates to finalize a landmark deal to build a 60,000 barrels-per-day oil refinery in western Uganda, seen as a crucial step in Uganda’s ambitions to become Africa’s newest oil producer...

  • Oil pipeline: Court blocks land owners

    Oil pipeline: Court blocks land owners ..

    The Masaka Senior Resident Judge Lawrence Tweyanze has ruled that the government can proceed with the construction of East African Oil Pipeline (EACOP) before the affected landowners are compensated for their land...

  • Namibia to host Afreximbank Trade Finance event

    Namibia to host Afreximbank Trade Finance event..

    The African Export-Import Bank (Afreximbank), a Pan-African multilateral trade finance institution that aims to promote and finance trade within Africa and between Africa and the rest of the world, is set to host its 2024 Trade Finance Seminar and Factoring Workshop in Windhoek, Namibia, from 5 - 8 ..

  • National Mining Company Board inaugurated

    National Mining Company Board inaugurated..

    The Government has unveiled the Board of Directors for the National Mining Company (NMC) as part of the efforts to enhance its participation in the mining sector. ..

  • Big names missing at COP29 in Baku

    Big names missing at COP29 in Baku ..

    Several influential world leaders have opted not to attend an action summit this week at the center of climate talks in Azerbaijan. High on the agenda is a deal to boost climate funding for developing countries...

Most Recent

Popular Links