Rwanda’s inflation rate slows to 0.7% December year-on-year

Rwanda’s inflation rate was recorded at 0.7 per cent year-on-year in December 2017, lower than 7.3 per cent during same period in 2016, on the back of declining vegetable and foodstuff prices.
Vegetable prices fell by over 10 per cent in December. / File.
Vegetable prices fell by over 10 per cent in December. / File.

Rwanda’s inflation rate was recorded at 0.7 per cent year-on-year in December 2017, lower than 7.3 per cent during same period in 2016, on the back of declining vegetable and foodstuff prices. The rate was at 2.2 per cent in November.

According to the National Institute of Statistics of Rwanda (NISR) monthly consumer price index (CPI), the price of foodstuffs and non-alcoholic beverages dropped by 3 per cent, while the cost of vegetables declined 10.1 per cent during the month. However, housing water, electricity, gas, and other fuels were up by 2.4 per cent, while cost of transport rose 2.8 per cent. Rwanda uses the consumer price index to measure the movement of prices for a basket of goods and services over time.

Underlying inflation rate (excluding fresh food and energy) remained stable at 2.0 per cent compared to November 2017, while annual average rate between December 2017 and December 2016 was at 4.8 per cent.

However, the inflation rate decreased by 1.2 per cent month-on-month in December. The annual average underlying inflation rate is 3.9 per cent.

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