July experiences mild inflation    

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m_July experiences mild inflation

Prices of fresh products had a positive annual change

Statistics released by the National Institute of Statistics Rwanda has seen a 0.3 percent increase in the urban general consumer price index for the month of July as compared to June, 2014. The consumer price index inflation is the main gauge of inflation in the country.

Consumer Price Index for the month of July stood at 1.9 percent from 1.4 percent for the month of June 2014.

Food and non-alcoholic beverages plus education had the most significant change rising by 2.4 and 7.1 percent year on year, respectively.

Prices of fresh products had a positive annual change of 2.2 percent between July 2014 and July 2013. The annual average rate index stood at a mild 3.3 percent.

Rural CPI increased by 4.5 percent on annual basis and decreased by 0.5 percent on Monthly basis thus outlining effects of the new national budget.

On an annual basis, the local goods index increased by 2.3 percent, the imported goods index increased by 0.8 percent, the fresh products index decreased by 0.4 percent, the energy index increased by 2.2 percent and the core index or the general index excluding fresh products and energy increased by 2.3 percent.

On a monthly basis, the local goods index increased by 0.1 percent, the imported goods index increased by 0.9 percent, the energy index increased by 0.7 percent, the core index increased by 0.3 percent and the fresh products index is stable.

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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