Ugandans begin to feel effects of the shilling’s depreciation

What the report says

The Independent Uganda published a commentary on October 28, 2026, arguing that Ugandans are already feeling the effects of the shilling’s depreciation. The piece says rising foreign-exchange pressure has pushed up the cost of imported goods, especially fuel, which in turn is affecting transport, food prices and everyday household spending. It describes pump prices nearing sh7,000 as a daily burden for ordinary consumers and says taxi fares and other travel costs have climbed sharply.

The article also links the weaker shilling to broader economic strains, including global financial conditions, foreign aid changes and lower foreign investment. It says traders in markets such as Kikuubo face difficult decisions about when to buy holiday stock, while consumers ultimately absorb the higher costs. The writer adds that the price pressures have spread into agriculture, with items such as Irish potatoes and maize becoming more expensive because of transport costs and dry weather in some farming areas.

Looking ahead to the Christmas season, the commentary suggests many families may cut back on travel and shopping, and that traders may see weaker festive demand than usual. It frames the situation as a test of policy and public confidence, calling for more careful government spending, broader tax fairness, local production and better support for farmers. The article is opinion-based, but it reflects a wider concern in Uganda about how exchange-rate weakness can quickly affect living costs in an import-dependent economy.