Producer prices up 4.8% in January as export index rises by 15.3%

Rwanda’s producer prices increased by 4.8 per cent in January 2026 compared to January 2025, largely driven by higher mining output prices and a sharp rise in electricity tariffs. The Producer Price Index (PPI) report, which tracks changes in the prices producers receive for their goods before they reach consumers, released by the National Institute of Statistics of Rwanda (NISR) on Monday, March 2, shows that the general PPI rose on both an annual and monthly basis. ALSO READ: Mining, energy costs push producer prices 4.6% up On an annual basis, comparing January 2025 to January 2026, the general PPI, which combines products sold locally and those exported, went up by 4.8 per cent. The increase was mainly pushed by a 20.4 per cent rise in mining and quarrying prices and a 34.8 per cent increase in electricity prices compared to January 2025. Manufacturing prices also rose by 2.5 per cent over the same period. Looking at the components separately, the Local Producer Price Index, which measures price changes for goods sold within Rwanda, increased by 2.8 per cent year-on-year. The rise was influenced by the 34.8 per cent jump in electricity prices and a modest 0.2 per cent increase in manufacturing prices. ALSO READ: Manufacturing pushes producer prices up 13% in July The Export Producer Price Index, which reflects the prices Rwandan producers charge for goods sold on foreign markets, recorded a much stronger annual growth of 15.3 per cent. The sharp increase was supported by a 20.4 per cent rise in mining export prices and a 5.2 per cent increase in manufacturing export prices. Mining, especially metal ores, carries significant weight in Rwanda’s export basket, meaning that changes in global commodity prices have a strong effect on the export index. On a monthly basis, January 2026 compared to December 2025, the general PPI increased by 1.1 per cent in January 2026 compared to December 2025. Prices for locally sold goods rose by 1.3 per cent during the month, largely due to a 1.5 per cent increase in manufacturing prices. However, export prices declined by 1.3 per cent compared to the previous month. The drop was mainly linked to a fall in manufacturing export prices, while mining export prices remained broadly unchanged in January. The Producer Price Index is often viewed as an early signal of inflation trends because it measures price movements at the production stage. When producers face rising costs, such as a 34.8 per cent increase in electricity, these may eventually be passed on to consumers.

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Producer prices up 4.8% in January as export index rises by 15.3%