Inflation rises to 2.56%

Rwanda’s year-on-year inflation, which measures the change in prices of goods and services, increased to 2.56 percent in February, up from 0.91 percent in the previous month, driven mainly by an increase in housing and transport prices.
Nyabugogo taxi park. High transport fares contributed to the rise in inflation (File photo)
Nyabugogo taxi park. High transport fares contributed to the rise in inflation (File photo)

Rwanda’s year-on-year inflation, which measures the change in prices of goods and services, increased to 2.56 percent in February, up from 0.91 percent in the previous month, driven mainly by an increase in housing and transport prices.

The National Institute of Statistics of Rwanda (NISR) said in the statement that underlying inflation rate, which excludes fresh food and energy increased by 0.91 percent compared to 1.57 percent in the previous month.
 
“The increase in the consumer price index is basically attributed to the increase in food and non-alcoholic beverages and in education due to the increase in private school fees recorded at the beginning of this year,” the statement reads.

The Institute asserted that the prices of transport rose by 3.99 percent, education 18.17 percent, contributing to 0.52 percent and 0.65 percent respectively.

The increase in transport costs is attributed to the current increase in oil prices.   
The prices of locally manufactured goods increased by 2.47 percent on annual change, with a monthly change of 0.97 percent due to an increase in furnishing and household equipments.

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