Inflation eased slightly in October

In October 2009 Rwanda’s year-on-year inflation dropped by 0.33 percent to 5.59 percent from 5.92 percent the previous month, according to the National Institute of Statistics of Rwanda (NISR).
High food production has contributed to the decline in inflationary pressure. (File photo)
High food production has contributed to the decline in inflationary pressure. (File photo)

In October 2009 Rwanda’s year-on-year inflation dropped by 0.33 percent to 5.59 percent from 5.92 percent the previous month, according to the National Institute of Statistics of Rwanda (NISR).

The underlying inflation rate—excluding fresh food and energy was established at 3.20 percent in the month of October, the statistics body said in a statement.

The increase in the consumer prices index is attributable primarily to the increase in food and non-alcoholic beverages which rose by 1.68 percent, housing, water, electricity, gas and other fuels 0.71 percent as well as transport 0.87 percent.

“This is much lower compared to the n the previous months. We expect to close the year with single digit inflation,” Ngendo Diane Karusisi, Senior Advisor at NISR told Business Times.

“Prices are not going up so much. This is because of high production in the agriculture sector,” she said.

It is noted that the increase of 1.68 percent in prices of food and non-alcoholic beverages is primary attributable to the increase of 1.3 percent of vegetables and 3.33 percent of fish.

The ‘local goods’ increased by 6.34 percent on annual change with a monthly variation of 1.23 percent while prices of the imported products rose by 0.22 percent on annual change with a monthly change of -0.45 percent.

The prices of the fresh products had a positive annual change of 26.05% between October 2009 and October 2008.

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