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Prices will double in approximately 24 years with a three percent rate of inflation.

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4mo ago

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What is the inflation rate in Uganda?

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This question is fundamentally flawed. What do you mean by high food prices? High relative to income? Other goods? I'll rephrase the question for you and try to answer it.Q: Why are food prices increasing even when some measure of inflation are low?A: Measures of inflation attempt to quantify the growth of overall prices someone (a general consumer, specific industry business, there are different inflation indices for all) may face in their day to day consumption.If you are thinking about consumer price indices, one answer to your question is that some simply do not track food prices. Food and energy prices are often volatile so for some uses it is better to exclude these goods.Another reason is that in many rich countries the share of income devoted to food is small. For example, in the United States, consumer spending on food has fallen from 23% of income in 1929 to just under 10% in 2008. Roughly speaking, measures of consumer inflation are averages of price changes of different types of goods, weighted by their share of consumers' incomes. Thus, if food only accounts for 10% of spending, but it is the only type of good increasing in price, broad measures of inflation will be small compared to a food specific index.


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