Rwanda's inflation rate eases to 5.8% in September

Rwanda’s inflation rate eased to 5.8 per cent in September, down from 6.8 per cent registered in August, the National Institute of Statistics of Rwanda (NISR) monthly consumer price index indicates. The drop is, however, higher than 3.7 per cent registered during the same period 2015, according to the report released yesterday. The statistics body attributed the increase to the rising prices for food and non-alcoholic beverages that rose by 1.9 per cent. The report indicated that the upward pressures on food prices started in November 2015, mainly due to the jump in prices for vegetables; and cropped up again this year vegetables prices rose from 11.3 per cent in May to 20.2 per cent in June, eventually expanding to 30.8 per cent in July, driving food inflation to 9.4 per cent in June up from 6.1 per cent in May, and finally to 13.8 per cent in July. Rwanda uses the monthly consumer price index to measure the average change over time of goods and services purchased by households. According to Lucie Mutetijabiro, the NISR price statistics and research unit team leader, the underlying inflation rate (excluding fresh food and energy) increased by 0.5 per cent on monthly basis, and went up by 4.8 per cent year-on-year. The annual average underlying inflation rate was recorded at 3.3 per cent. On an annual basis, the ‘local’ goods index rose by 5.9 per cent, while the imported goods index was up by 5.6 per cent, with fresh products prices going up by 12.4 per cent. During the first half of the year, headline inflation was around 4.7 per cent on average and was at 5.5 per cent in June and 6.9 per cent in July, according to the National Bank of Rwanda.

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Rwanda's inflation rate eases to 5.8% in September