Rising prices to push more into poverty

By Ritah Kemigisa

The World Bank has warned that the rising commodity prices will increase poverty levels in the country.

According to the Bank’s 19^th Uganda economic update, the rising commodity prices pose new risks to people’s livelihoods that have just been recovering from the effects of COVID-19.

The Uganda Bureau of Statistics has since recorded a continuous rise in inflation as prices of essential commodities continue on the upward trend.

According to the Commodity Price Index released for the month of June 2022, some of the commodities whose prices are rapidly increasing include maize and cassava flour as well as beans.

The World Bank has now tasked the government to among others execute the capital budget more efficiently to maximize returns on investments so as to maintain fiscal and debt sustainability in tandem with the charter of fiscal responsibility.

Written by Noelyn Nassuuna