The National Institute of Statistics of Rwanda (NISR) has revealed that Rwanda’s Consumer Price Index (CPI), main gauge of inflation increased by 20.1 percent year on year in October 2022 up from 17.6 percent in September 2022.

The urban CPI is calculated based on approximately 1622 products in twelve urban centers of Rwanda.

The increase was mainly driven by skyrocketing prices of food and non-alcoholic beverages.

Hiked prices continue to be an issue of global concern owing to effects of COVID-19, the war between Russia and Ukraine as well as low agricultural produce.

In October 022, Food and non-alcoholic beverages increased by 39.7 percent on annual basis and increased by 5.3 percent on monthly basis.

Housing, water, electricity, gas and other fuels increased by 8.9 percent on annual basis and increased by 1.3 percent on monthly basis.

According to NISR, transport increased by 13.6 percent on annual basis and decreased by 0.4 percent on monthly basis. Restaurants and hotels increased by 18.6 percent on annual change and increased by 0.9 percent on monthly basis.

The data also show the local products increased by 20.1 percent on annual change and increased by 3.4 percent on monthly basis, while prices of the “imported products” increased by 20 percent on annual basis and increased by 0.6 percent on monthly basis.

The prices of fresh products increased by 42.4 percent on annual change and increased by 7.5 percent on monthly basis.

Meanwhile, prices of energy increased by 22.3 percent on annual change and increased by 2.4 percent on monthly basis.

Among others, the prices of the “general Index excluding fresh products and energy” increased by 14.4 percent on annual change and increased by 1.4 percent on monthly basis.

AE News