Uganda, Dec. 8 -- Bank of Uganda has said inflation is likely to drop to between 6 and 8 percent next year, before stabilising around the 5 percent target by end of 2023.

The forecast is 2 percent lower than earlier projections by the Central Bank.

Inflation has slowed, falling slightly to 10.6 percent in November from a peak of 10.7 percent in October.

Presenting the Monetary Policy Statement for December in Kampala yesterday, Dr Michael Atingi-Ego, the Bank of Uganda deputy governor, said: "The revision in the forecast is due to dissipating impact of earlier increases in global commodity prices, subdued domestic demand, effects of the current monetary policy stance, expected decrease in global inflation, and lower exchange rate depre...