{"id":52572,"date":"2025-01-10T12:38:08","date_gmt":"2025-01-10T12:38:08","guid":{"rendered":"https:\/\/new.igihe.com\/rwanda-s-consumer-prices-up-by-6-8-in-december-2024\/"},"modified":"2025-01-12T14:14:32","modified_gmt":"2025-01-12T14:14:32","slug":"rwanda-s-consumer-prices-up-by-6-8-in-december-2024","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/rwanda-s-consumer-prices-up-by-6-8-in-december-2024\/","title":{"rendered":"Rwanda\u2019s consumer prices up by 6.8% in December 2024"},"content":{"rendered":"

This increase marks a notable acceleration in urban inflation, which serves as the headline index for monetary policy decisions.<\/p>\n

Despite the annual rise, urban prices experienced a 0.8% decline compared to November 2024, reflecting a slight monthly price relief for urban consumers. <\/p>\n

NISR reports that several categories contributed to the annual increase in urban prices. Transport prices saw the largest increase, rising by 17.9%, primarily driven by higher fuel costs and transport services. <\/p>\n

The Food and Non-Alcoholic Beverages category experienced a 6.0% increase, with significant price surges in meat (25.4%) and milk, cheese, and eggs (14.6%). <\/p>\n

Vegetables rose by 6.9%, although they declined by 8.5% compared to November 2024. Additionally, the cost of Housing, Water, Electricity, Gas, and Other Fuels increased by 4.7%, reflecting sustained demand and higher costs in the utilities sector.<\/p>\n

On a broader scale, Rwanda’s overall CPI, which combines both urban and rural areas, rose by 6.4% annually, while the rural CPI increased by 6.2%. However, on a monthly basis, rural prices dropped by 2.1%, contributing to a 1.6% decline in the national index. <\/p>\n

The fresh products index, which captures seasonal price fluctuations, surged by 11.3% annually, driven by increased costs for fresh vegetables and other agricultural products. However, it fell by 4.4% on a monthly basis.<\/p>\n

The core inflation index, which excludes volatile items like fresh food and energy, rose by 5.8% annually and 0.4% on a monthly basis, indicating sustained price pressure across non-volatile goods and services.<\/p>\n

Despite the inflation pressures, Rwanda’s economy demonstrated robust growth throughout 2024, with real GDP increasing by 9.7% in the first quarter and 9.8% in the second quarter, driven by strong performances in the services and industrial sectors. <\/p>\n

The third quarter continued this positive trend, with an [ 8.1% growth rate->https:\/\/en.igihe.com\/economy\/article\/rwanda-records-8-1-economic-growth-in-q3-of-2024], bringing the average growth rate for the first three quarters of 2024 to 9.2%. <\/p>\n

The International Monetary Fund (IMF) projects Rwanda’s real GDP to grow by 7.0% in 2025, following an estimated 8.3% growth in 2024. <\/p>\n

\"The<\/figure>\n","protected":false},"excerpt":{"rendered":"

Consumer prices in urban areas rose by 6.8% in December 2024 compared to the same month in 2023, according to the latest Consumer Price Index (CPI) report from the National Institute of Statistics of Rwanda (NISR). <\/p>\n","protected":false},"author":131,"featured_media":2000080028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[75],"byline":[192],"hashtag":[],"class_list":["post-52572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-homenews","byline-wycliffe-nyamasege"],"bylines":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":131}],"contributors":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":131}],"featured_image":{"id":2000080028,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/market_banana.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/52572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=52572"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/52572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000080028"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=52572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=52572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=52572"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=52572"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=52572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}