Inflation falls to 0.64 percent

Rwanda’s annual average inflation rate fell by 1.28 percent to 0.64 percent in April from 1.92 percent in March, the National Institute of Statistics of Rwanda (NISR) said. The underlying inflation rate, which excludes fresh food and energy, eased to 0.07 percent from 1.78 percent. The increase in the consumer prices index is attributable primarily to the increase in food and non-alcoholic beverages that rose by 0.85 percent and housing, water, electricity, gas and other fuels which rose by 0.94 percent, the statistics body said in a statement. According to the statement, the increase of 0.85 percent in prices of food and non-alcoholic beverages is primary attributable to the increase of 3.43 percent of vegetables. “The ‘local goods’ increased by 3.31 percent on annual change with a monthly variation of 0.55 percent, while prices of the imported products increased by 0.53 percent on annual change with a monthly change of 0.56 percent,” the statement reads. Last month the National Bank of Rwanda (BNR) said it was pursuing an expansionary monetary policy to increase the supply of money in the economy, in an effort to boost economic growth. The Central Bank’s move was inspired by the country stable macroeconomic environment characterised by the low inflationary pressure. Ends

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Inflation falls to 0.64 percent