Rwanda’s inflation increases by 14.1 percent in May 2023

The National Institute of Statistics of Rwanda (NISR) has revealed that Rwanda’s Consumer Price Index (CPI), which serves as the primary indicator of inflation, recorded a year-on-year increase of 14.1 percent in May 2023, a decrease from the 17.8 percent registered in April 2023.

Specifically, the category of Food and non-alcoholic beverages witnessed a 25.4 percent increase compared to the previous year, but experienced a 3.8 percent decrease on a monthly basis.

Similarly, ’Alcoholic beverages, tobacco, and narcotics’ saw a 21.5 percent annual increase and a 0.7 percent increase on a monthly basis.

The Transport sector observed a 7.6 percent increase in prices on an annual basis, along with a 0.2 percent increase on a monthly basis.

Figures further show that the prices of "local products" increased by 15.9 percent on an annual basis, but experienced a 1.5 percent decrease compared to the previous month.

Conversely, prices of "imported products" rose by 8.7 percent on an annual basis but decreased by 0.5 percent on a monthly basis.

Notably, the prices of "fresh products" displayed a significant annual change of 38.3 percent, yet underwent a monthly decrease of 4 percent.

Meanwhile, the prices of "energy" increased by 5.9 percent annually and rose by 0.2 percent on a monthly basis.

When excluding fresh products and energy from the general index, the overall inflation rate remained at 8.7 percent on an annual basis, but experienced a 0.5 percent monthly decrease.

PM