Connect with us

Taarifa Rwanda

Rwanda’s Consumer Price Index In July Grew 0.6%

Business

Rwanda’s Consumer Price Index In July Grew 0.6%

Rwanda’s economy realised an increased consumer price index (CPI) in July tagged at 0.6% on annual basis and decreased by 0.8% on monthly basis.

In Rwanda’s urban, the consumer price index (CPI) in July moved upto 2.0% on annual basis and decreased by 1.0% on monthly basis.

According to the National Institute of Statistics NISR, the annual average rate between July 2018 and July 2017 was 2.2%. The annual average underlying inflation rate is 2.1 percent.

This rise was mainly attributed to the rising prices of ‘Housing, water, electricity, gas and other fuels’ 3.1% and Transport 10.2%.

The statistics agency also reported that the Rural CPI decreased by 0.3% on annual basis and decreased by 0.6% on monthly basis.

Consumer price index (CPI) is the measure for changes in the price level of market basket of consumer goods and services purchased by households.

For Rwanda, the NISR says the household basket includes 1,622 products sold in many places spread all over the country.

Meanwhile, a variety of places of observation are selected: shops, markets, hospitals, schools and others. More than 29,482 prices in urban areas and 10,744 in rural areas are collected every month.

According to the statistics body, the weights used for the index are from the result of the Household Living Conditions Survey (EICV4) conducted in 2013-2014 with a sample of 14,419 households.

Continue Reading
Advertisement
Click to comment

Comment

More in Business

To Top