July inflation slows to 2.3%

Rwandas annual headline inflation slowed to 2.3 per cent last month compared to 2.8 per cent recorded in June due to a slower rise in food and non-alcoholic beverage prices, the National Institute of Statistics of Rwanda (NISR) consumer index report for July indicates. The report noted that food and non-alcoholic beverages prices increase by 0.7 per cent last month, lower compared to the 2.9 per cent rise recorded in June. On the other hand, the cost of housing, water, electricity, gas and other fuels increased by 4.2 per cent, while transport prices went up by 2.7 per cent. Compared to June, the headline inflation decreased by 0.1 percent in last month, while the core inflation rate, which excludes fresh food and energy, rose 0.4 per cent. The annual average core inflation rate was at 2.5 per cent, also lower than the three per cent recorded in June this year. Headline inflation measures the average change of prices of goods and services purchased by households over time. The government is projecting headline inflation to reach 3.5 per cent by the end of this year, thus containing it at below 5 per cent in the medium term as anticipated by the National Bank of Rwanda (BNR). ben.gasore@newtimes.co.rw.

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July inflation slows to 2.3%