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    BusyMarkets Kampala #018: UGX stable amid soaring petrol prices

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    The UGX remained stable against the USD entering the weekend due to limited activity on the market by importers and commercial banks. The outlook reflects a weaker shilling. This has already posed a threat to inflation wherever the foreign currency is involved (Input/Output). Recent data from Uganda Bureau of Statistics (UBOS) indicates that during August, inflation slightly declined to 3.5% from 3.9% in July. However, price increase among some key commodities continues to present inflationary pressures last seen more than a year ago.

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