Rwanda’s Inflation rate has dropped to 3.5 per cent in the month of July, down from the 3.7 per cent a month earlier.

According to the National Institute of Statistics, price indicators during the month of July were established at 121.1, resulting into a decrease of 0.09 per cent from the previous month which recorded 121.2. 

The underlying inflation rate (excluding fresh food and energy) increased by 0.02 per cent from a month earlier and 3.6 per cent on annual change. The annual average underlying inflation rate was recorded at 3.6 per cent in July, up from the previous month’s 3.5 per cent.

The increase in the consumer price index of 0.09 can be primarily attributed to the decrease in prices of food and non-alcoholic beverages, housing, water, electricity, gas and other fuels and transport.

Oscar Sibomana, the principal statistician at NISR, said the annual increase  in the general index of 3.52 is mainly due to the rising prices of food and non-alcoholic beverages and education  fees, which contributed 1.52 and 1.29 respectively.

The prices of fresh products had a positive annual change of 5.07 between July 2013 and July 2012.