Wednesday, May 18, 2011

Rwandans to Pay More Due to Rising Inflation

Rwanda's annual inflation increased to 4.98 percent in the month of April, up from 4.11 percent in the previous month, driven by high food and transport costs.

According to the National Institute of Statistics of Rwanda, the underlying inflation rate, which excludes fresh food and energy rose to 1.5 percent, which was set at1.4 percent in the previous month.

The institute said that transport prices rose by 12.96 percent while food and non-alcoholic beverages increased by 2.44 percent, contributing to 0.87 percent and 1.52 percent, respectively. The increase in transport was occasioned by the higher global oil prices, it said.

The price of locally manufactured goods increased by 3.31 percent on annual change, with a monthly change of 0.55 percent due to an increase in household equipment and routine household maintenance. But Rwanda’s central bank says it is aiming to keep the inflation rate below 7.5 percent this year, lower than a previous estimate of 8 percent.

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