ECONOMY : Inflation drops to 4 percent

Rwanda’s annual average inflation eased smoothly to 4.86 percent in the month of August down from 5.81 in July, the National Institute of Statistics of Rwanda said last week.

Rwanda’s annual average inflation eased smoothly to 4.86 percent in the month of August down from 5.81 in July, the National Institute of Statistics of Rwanda said last week.

The national statistics body said that the underlying inflation rate—excluding fresh food and energy also increased by 0.45 percent to give an annual change of 5.67 percent.

The NISR said in its monthly consumer price index statement that the increase in the general index of 4.86 percent is mainly due to the rising prices of food and non-alcoholic beverages of 6.79 percent and education that increased by 20.85 percent.

They contributed 2.74 percent and 0.9 percent respectively.

The statement said that the increase in the consumer prices index of 1.71 percent is attributable primarily to the increase in food and non-alcoholic beverages that increased by 3.44 percent and transport 1.95 percent.

It is noted that the increase of 3.44 percent in prices of food and non-alcoholic beverages is primary attributable to the increase of 9.13 percent of Vegetables.

The ‘local goods’ increased by 5.59 percent on annual change with a monthly variation of 2.21 percent, while prices of imported products rose by 2.18 percent on annual change with a monthly change of 0.44 percent.

The prices of fresh products had a positive annual change of 10.13 percent between August 2009 and August 2008.

Ends

Subscribe to The New Times E-Paper


You want to chat directly with us? Send us a message on WhatsApp at +250 788 310 999    

 

Follow The New Times on Google News