Inflation Will Decline By 2012, Says Central Bank.

Byline: Nicholas Kalungi

The Central Bank has said the current double digit inflation will start declining next year due to anticipated falling food prices in the later part of 2011 and early 2012, forecasting better prospects next year.

In a speech read for Mr Emmanuel Tumusiime Mutebile, during the inaugural graduation ceremony of the Uganda Institute of Banking and Financial services, the Central Bank governor said the skyrocketing inflation is likely to calm down by 2012. He said: "The economy is experiencing inflationary pressures driven by food and exchange rate depreciation; however, we are confident it will fall on the back of low food prices, current rains …