FX.co ★ Uganda’s Annual Inflation Edges Up to 3.2% in May, Still Within Moderate Range

Uganda’s consumer price inflation ticked higher in May 2026, with the year-over-year Consumer Price Index (CPI) rising to 3.2%, up from 3.0% in April 2026. The latest data, updated on 29 May 2026, indicate a modest acceleration in price growth but still point to a relatively contained inflation environment.

The figures are based on a year-over-year comparison, measuring price changes in May 2026 against those in May 2025. Similarly, April’s 3.0% reading reflected the change compared with April 2025. The slight increase suggests inflationary pressures remain present but not yet at levels typically associated with overheating or acute cost-of-living stress.

While no breakdown by category was provided, the move from 3.0% to 3.2% will be closely watched by market participants and policymakers, as it may influence expectations around future price dynamics and potential monetary policy responses if the upward trend continues.