Energy, food and non-alcoholic beverages had the highest increase on an annual and monthly basis
Rwanda’s Consumer Price Index (CPI) main gauge of inflation increased by 9.9 percent year on year in April 2022 up from 7.5 percent in March 2021, reports the National Institute of Statistics (NISR).
The NISR market price data released this May 10, 2022 shows that energy, food and non-alcoholic beverages had the highest increase on an annual and monthly basis followed by utilities and transport and the hospitality services sector.
As of April 2022, the year-on- year data shows that the prices of energy increased by 20.3 percent on annual change and increased by 1.9 percent on monthly basis.
This situation is informed by the global fuel/ gas prices and the war in Ukraine has been evident locally especially in increase of pump fuel and cooking gas prices countrywide, despite the government having a cap on the prices.
As of April 2022, food and non-alcoholic beverages increased by 15.7 percent on annual basis and increased by 5.5 percent on monthly basis, while housing, water, electricity, gas and other fuels increased by 8.8 percent on annual basis and increased by 0.4 percent on monthly basis.
Transport increased by 7 percent on an annual basis and increased by 3.3 percent on a monthly basis. Restaurants and hotels increased by 15 percent on annual change and increased by 0.3 percent on monthly basis
The data also show the local goods increased by 8.8 percent on annual change and increased by 2.3 percent on monthly basis, while prices of the imported products increased by 13.5 percent on annual basis and increased by 2.7 percent on monthly basis.
With a continued shortage of fresh foods on the local and global markets, current data shows that Rwanda fresh products has recorded a 9.3 percent increase on annual change and increased by 5 percent on monthly basis.
Apparently, prices of the General Index excluding fresh Products and energy increased by 9.1 percent on annual change and increased by 1.8 percent on monthly basis.
Rwanda’s Central Bank has previously said that this hike in prices is predicted but will continue to monitor domestic and global macroeconomic developments and take necessary actions to keep headline inflation within the band in the medium-term.
