Rwanda Inflation Rises

Rwanda’s inflation rate increased to 8.1% during the month of February year-on-year, the National Institute of Statistics of Rwanda consumer price index monthly report indicates. Last month, inflation was recorded at 7.4%, RwandaEye reported. The increase was mainly driven by rising prices of food and non-alcoholic beverages, that rose by 17.6%, housing, water electricity, gas and other fuels which were up 2.1%, and transport costs that expanded by 8.3%, according to the statistics body. According to the report, monthly inflation rose by 1.1% in February 2017. The increase means that Rwandans are now spending more francs to buy commodities especially food when compared to the same period last month. Underlying inflation rate, excluding fresh food and energy, was up by 0.5% compared to January, and increased by 5.6% on annual basis (February 2016). The annual average underlying inflation rate is 4.5%.