Rwanda’s annual inflation rate accelerated to 5 percent in November 2024, up from 3.8 percent in October, as rising transport and housing costs drove a broad increase in consumer prices. The latest data from the statistics bureau highlights.
Transport costs surged 15.6 percent year-on-year, marking the largest increase among major components of the Consumer Price Index. Housing, water, electricity, gas, and other fuels also posted a notable 4.4 percent annual rise, while food and non-alcoholic beverages saw a more modest 2.1 percent gain.
The core inflation index, which excludes fresh produce and energy, climbed 5.3 percent annually, reflecting underlying price pressures beyond volatile categories. Meanwhile, domestic product prices increased by 5 percent on an annual basis, with imported goods slightly outpacing them at 5.1 percent, though both showed monthly declines in November.
Energy prices, which declined by 0.2 percent year-on-year and month-on-month, provided a rare reprieve amid the broader inflationary environment. Fresh produce prices, despite increasing 5.4 percent annually, experienced an 0.8 percent monthly decline, likely reflecting seasonal adjustments.
