Consumer prices in Rwanda increased by 5 per cent on annual basis in August and rose 0.9 per cent on monthly basis, according to the latest Consumer Price Index (CPI) released by the National Institute of Statistics of Rwanda (NISR).
CPI is a measure of the average change over time of goods and services purchased by households.
Urban CPI, considered the primary measure of inflation in Rwanda, is calculated based on approximately 1,622 products in twelve urban centres of Rwanda.
According to the latest CPI, transport saw the largest increase, rising by 19 per cent compared to August 2023. It contributed 2.2 percentage points to the overall inflation rate.
Housing, water, electricity, gas and other fuels increased by 4.8 per cent and contributed 0.8 percentage points to the overall inflation, while food and non-alcoholic beverages only increased by 1.6% overall and contributed 0.6 percentage points to the inflation.
Food and non-alcoholic beverages is the largest category among the products measured by NISR, making up 27 per cent of the CPI basket.
Within the food category, there were significant increases in some subcategories. Meat prices increased by 15.3 per cent, while milk, cheese, and eggs prices rose by 22.1 per cent
These increases were partially offset by decreases in other food subcategories, like vegetables which decreased by 4.5 per cent.
Restaurants and hotels increased by 4.9 per cent and contributed 0.4 percentage points, while alcoholic beverages, tobacco and narcotics increased by 5.4 per cent, contributing 0.3 percentage points.
Clothing and footwear rose by 5 per cent, contributing 0.2 percentage points.
Rural Consumer Price Index (CPI) decreased by 0.3 percent on an annual basis (August 2024 compared to August 2023) and it increased by 1.7 percent on monthly basis (August 2024 compared to July 2024).
Rwanda CPI, combining both urban and rural areas, increased by 1.7 per cent on an annual basis in August and it increased by 1.4 per cent on monthly basis.
