Rwandan Inflation jumps to 6.9% in July on food

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Rising food prices helped push up Rwanda’s inflation rate in July to 6.9 percent year on year as food prices and utility costs climbed, the National Institute of Statistics of Rwanda said.

As of July 2016, the inflation hiked up from 5.5 percent to 6.9 in June 2016. The statistics reveal that, food and non-alcoholic beverages, ‘Housing, water, electricity, gas and other fuels ‘and transport rose by 13.8 percent, 2.7 percent and 8.7 percent respectively; particularly In July 2016.

Data show the local goods increased by 7.5percent on annual change and increased by 0.8 percent on a monthly basis, while prices of the “imported products” increased by 5.2 percent on annual basis and increased by 2.3 percent just on a monthly basis.

Meanwhile, the coast of living could be a blow to the main consumer (ordinary citizen) as prices fresh products by increased by 19 percent on annual change and increased by 3.6 percent on a monthly basis.

In recent records, Rwanda stock market has also experienced some fall in trading amid major global markets that continue to plunge.

According to statistics, the Rwanda stock market had hugely dropped in the first six months of 2016 compared previous years and same period in 2015.

In the Rwanda Stock Exchange Office, official reports indicate 2015 was the worst year selling 37% in share indices (local) because of all the issues that affected markets across the world especially African markets. Thus first half of 2016 continued that trend.

 

 

 

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