By Ben Musanje
22nd March 2022
The Ministry of Finance, Planning and Economic Development has noted that the main cause of the recent increase in commodity prices are external and beyond their ability as policy makers in the country to deal with it directly.
Addressing the journalists at Media Center in Kampala, the Finance Minister Matia Kasaija says that people should not panic or make alarms because this is a temporary situation that is soon or later to subside.
Uganda’s prices started through a fuel crisis and the government then maintained that fuel prices were only for a short while following a gridlock at the border citing a protest by drivers against the fees slapped on Covid-19 tests.
Now, Kasaija says that laundry bar soap and cooking oil have risen mainly due to the rising prices of crude palm oil at international markets while the hiking of domestic fuel prices is caused by the recent fuel shortages which were due to a strike at the Uganda- Kenya border in Malaba.
The Minister however promise the situation to normalize adding that the government is monitoring it and will respond with appropriate policy interventions to ensure macroeconomic stability and affordable cost of living for all Ugandans.
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