Rwanda’s inflation rate ticked up slightly in August 2024, rising 5 percent year-on-year compared to 4.9 percent in July, as the country deals with increasing costs across key sectors, according to data released by the Statistics agency.
The monthly inflation rate also climbed by 0.9 percent from July to August, driven by sharp increases in urban prices.
The urban CPI rose by 5 percent in August compared to the same month last year, bolstered by significant hikes in transport costs, which surged by 19 percent, alongside notable increases in housing, water, electricity, gas, and other fuels, which rose 4.8 percent.
Prices for food and non-alcoholic beverages climbed 1.6 percent annually, while restaurants and hotels saw a monthly increase of 2.2 percent. Excluding fresh food and energy, the underlying inflation rate rose 5.6 percent year-on-year in August, with a modest 0.5 percent increase from the previous month.
