Rwanda’s Inflation Rises to 11.7 %

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Rwanda’s economy is currently facing rising inflation of up to 11.7 percent according to recent report by the national institute of statistics (NISR).

The report indicates the Rwanda CPI increased by 11.7 percent on an annual basis, and decreased by 1.0 percent on a monthly basis

“On an annual basis, the local goods index increased by 6.4 percent, the imported goods index increased by 6.8 percent, the fresh products index increased by 14.0 percent, the energy index increased by 4.0 percent and the core index or the general index excluding fresh products and energy increased by 4.9 percent “the NSR report indicates.

The Urban CPI increased by 6.5 percent in May 2017 compared to the same month of the previous year. This is mainly due to the rising prices of „food and non-alcoholic beverages‟ 14.3 percent, housing, water, electricity, gas and other fuels‟ 1.8 percent and „transport‟ 5.4 percent.

The Consumer Price Index (CPI) is a key determinant of the level of inflation in an economy and is calculated by taking a household “basket of goods” and comparing the value of these to a previous period.

The monthly CPI decreased by 0.2 percent in May 2017. This is mainly due to „food and non-alcoholic beverages‟ which decreased by 0.6 percent. The underlying inflation rate (excluding fresh food and energy) increased by 0.4 percent when compared to April 2017 and increased by 4.9 percent when compared to May 2016.

The annual average underlying inflation rate is 5.0 percent 3. Other selected urban indices In this section, we present five selected urban indices – the local goods index, the imported goods index, the fresh products index, the energy index and the core index.

On a monthly basis, the local goods index decreased by 0.2 percent; the imported goods index was stable, the fresh products index decreased by 2.4 percent, the energy index decreased by 0.2 percent and the core index increased by 0.4 percent compared to April 2017.

 

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