Increasing power, food and housing prices push up March inflation

Rwanda’s inflation inched up marginally by 0.8 per cent year-on-year last month, up from 0.7 per cent in February, the National Institute of Statistics of Rwanda monthly consumer price index reports for March indicates. The increase was driven by a by 3.8 per cent rise in prices of housing, water, electricity, gas and other fuels, as well as food and non-alcoholic beverages that rose by 0.8 per cent. The biggest negative contribution of 0.7 percentage pointscame from transport. Rwanda uses consumer price index to measure average change in prices of goods and services bought by households over time. According to the report, the underlying inflation rate, excluding fresh food and energy, increased by 0.1 per cent compared to February and was up by 1.7 per cent year-on-year. And annual average underlying inflation rate was at 2.4 per cent, Lucie Mutetijabiro, the price statistics and research team leader, said. Mutetijabiro said the local goods index increased by 1.2 per cent year-on-year, and prices for imported goods declined by 0.1 per cent. The index for fresh products decreased by 2.5 per cent, while the general index, excluding fresh products and energy increased by 1.7 per cent. And on a monthly basis. Local goods prices increased by 1.1 per cent, the report indicated. business@newtimes.co.rw

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Increasing power, food and housing prices push up March inflation