The latest Consumer Price Index (CPI) report from the Uganda Bureau of Statistics (UBOS) highlights a significant rise in passenger transport costs, profoundly affecting daily commuters and the broader economy. The annual inflation rate for passenger transport by road increased sharply to 4.4% in May 2024, up from 2.2% in April 2024.
“This sharp increase in passenger transport costs is a major concern for Ugandans, especially those who rely on road transport for their daily commute, The rising costs are adding financial strain to households and businesses alike.”
stated Chris N. Mukiza, Executive Director of UBOS.
In addition to road transport, air transport costs have also seen a substantial rise. The annual inflation rate for passenger transport by air skyrocketed to 11.7% in May 2024, a significant jump from 2.8% in April. This dramatic increase affects not only domestic travelers but also international travel and logistics, potentially impacting tourism and business operations reliant on air travel.
On a monthly basis, transport inflation also reflects concerning trends. Monthly transport inflation rose by 0.9% in May 2024, up from a 0.6% increase in April. This continuous upward trend underscores the persistent rise in transport costs that Ugandans face.
