Falling food prices in May helped slow the inflation rate in Rwanda’s urban centres for the first time in seven months to 4.54 percent, official data showed on Thursday.<\/p>\n
The National Institute of Statistics of Rwanda said the country’s urban consumer price index rose less than 0.1 percent in May from a month earlier as a 0.92 percent fall in food and non-alcoholic beverages prices was off-set by increases in the cost of transport and housing and utilities.<\/p>\n
“The increase in the consumer prices index … is attributable primarily to the increase in housing, water, electricity, gas and other fuels (0.73 percent) and Transport (0.87 percent),” the statistics office said in a statement.<\/p>\n
Year-on-year, food prices rose by 4.69 percent in urban areas.<\/p>\n
Rwanda’s overall inflation rate, which has a higher weighting for food, increased to 3.82 percent in May from 3.05 percent a month earlier.<\/p>\n
Rwanda has the lowest inflation rate within the five-nation East African Community trade bloc. Uganda has the highest inflation rate at 16.0 percent, followed by Kenya, Tanzania, Burundi and then Rwanda.<\/p>\n
Rwanda’s Finance Minister John Rwangombwa said in his budget last week he forecast inflation rising to about 7.5 percent this year. This story was first published by Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"
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