Inflation increased by 1.9 percent In July, 2019
Written by: Dias Nyesiga
Tuesday, August 13th, 2019, 2:30
The country’s inflation rate increased by 1.9 percent on annual basis compared to the same period in 2018 but remained stable month on month.
“The Consumer price index-CPI for July was stable compared to June 2019,” said Mutetijabiro Lucie, Price Statistics Research Statistician, Team Leader at national Institute of Statistics of Rwanda-NISR.
Accordingly, Inflation is the increase in the prices of goods and services for a period of time mainly calculated on yearly or monthly basis.
National Institute of Statistics of Rwanda indicates that Alcoholic beverages, tobacco and narcotics increased by 6.8 percent while Food and non-alcoholic beverages increased by 1.1 percent, Clothing and footwear increased by 6.7 percent with Transport increased by 2.5 percent.
The statistics body shows that the underlying inflation rate which excludes fresh food and energy rose by 0.2 percent and 2.6 percent compared to June 2019 and to July 2018 respectively.
On the other hand, the annual average inflation rate between July 2019 and July 2018 is 0.8 percent while the yearly average underlying inflation rate stands at 1.6 percent.
Accordingly, the imported goods index increased by 4.1 percent year on year, local goods index went up by 1.2 percent, fresh products index increased by 0.2 percent, however, a decrease was recorded on the energy index which fell by 1.3 percent with the general index (excluding fresh products and energy) increased by 2.6 percent on annual basis.
The decrease was also recorded, according to statistics body on monthly basis where the local goods index decreased by 0.2 percent, energy index decreased by 0.7 percent and fresh products fell by 0.8 percent while imported goods index increased by 0.5 percent, and the core index increased by 0.2 percent.