Cabinet to discuss Sky Rocketing commodity prices
The Cabinet is set to discuss the skyrocketing prices of essential commodities. Prime minister Robinah Nabbanja disclosed, though it’s not clear whether the cabinet intends to come up with policy actions to manage price volatility. Daniel Lutaaya reports.
Of late, the rising prices of essential commodities like soap, cooking oil, salt and other food stuffs has been the talk of the nation with many wondering if the prices will ever go down.
The concerns of high fuel prices have now shifted to the increased prices of soap, detergents and sugar among other household commodities, with a bar of soap now at 7000 shillings.
Among the many concerned voices is that of the Supreme Mufti of Uganda Sheikh Shaban Galabuzi.
Galabuzi who was speaking at a Thanksgiving ceremony hosted at his hometown in Naggalama Mukono challenged the government to find a lasting solution to deal with the rising prices of everyday items.
In response, the Prime minister of Uganda Robinah Nabbanja says the government too is bothered by the skyrocketing prices of domestic items.
Since the beginning of this year, due to multiple factors, especially the transmission of global price rise, some commodities have seen extended price rally, with the prices of some varieties hitting new records. The Prime Minister Robinah Nabbanja further reveals that the rising prices are top on the agenda that they will be discussed in Monday’s cabinet seating.
It is however not clear whether a strategy to cool down the unreasonable commodity price spikes will be reached.
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