Uganda’s central bank raised its key interest rate another 50 basis points to 9.0% in a decision announced on Friday.
The Bank of Uganda has now raised the rate by 250 basis points this year to try to tame inflation.
Consumer prices have been driven higher by soaring fuel and food costs that the government of President Yoweri Museveni has blamed on the lingering after-effects of the COVID-19 pandemic and the war in Ukraine.
Annual headline inflation reached 7.9% in July compared to 6.8% in June.
