Rwanda's inflation rate slowed down to 4.5 percent year-on-year in December 2015, down from 4.8 per cent in November, while the monthly inflation decreased by 0.5 per cent last month.

According to the National Institute of Statistics of Rwanda (NISR) Consumer Price Index (CPI) monthly report released over the weekend, the marginal reduction was attributed to decline in prices of food and non-alcoholic beverages, which decreased by 1.9 per cent recorded in December.

According to the report, the prices for housing, water, electricity, gas and other fuels increased by 2.9 per cent, while transport was recorded at 2.4 per cent during the  month.

Meanwhile, underlying inflation rate (excluding fresh food and energy) was at 0. 3 per cent during December 2015 compared to 0.8 per cent in November 2015, and 2.3 per cent year-on-year. On an annual basis, the local goods index increased by 5.7 per cent while that for the imported goods rose by 1.3 per cent. However, the prices for local and imported goods decreased by 0.8 per cent and 0.3 per cent, respectively, on a monthly basis. Prices for fresh products decreased by 3.5 per cent on a monthly basis during December, while energy slowed by 1.2 percent, and core inflation was at 0.3 per cent, the report indicates.