Ugandans have spent some time crying over the escalating prices of commodities, a factor which has led to poor standards of living.
For example, now a bar of soap for white star is sold between Shs8000 to Shs10000, and a litres of cooking oil is sold above Shs10,000.
It is said that, all this is as a result of increase in fuel prices.
Government shifts the blame to the ongoing conflict in Ukraine which was invaded by Russia at the end of February.
Speaking about the matter over the weekend, Dr Paul Wabiga, an economist from Makerere University has advised Ugandans to reduce on their daily expenditure because the spike in prices of commodities is happening elsewhere in the world.
The Senior lecturer said, the problem of increase in the prices of commodities is not happening only in Uganda but also other countries are struggling to recover from this economic depression which is defined by inflation, loss of consumer confidence among other factors.
He also explained three factors that he says are the causes of the prevailing situation, and one is covid-19 pandemic which financially affected all countries in the world.
Dr Wabiga also pointed out the ongoing war in Ukraine which was invaded by Russia in the late February ,where by many materials used to manufacture goods used in day to day life, are exported from Russia ,which was economically sanctioned by many countries as punishment for the Ukraine invasion.
Dr Wabiga noted that parliament’s request towards government to reduce taxes charged from goods exported from other countries, would help but government will make a huge loss.
However he asked Ugandans to reduce on the expenditures because government has failed to provide an urgent solution.
He gave an example of doing away with some goods which are harmful to people’s lives like cooking oil which can cause diseases such as high blood pressure, cancers among others.
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