Consumer Price Index, February 2024

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Consumer Price Index, February 2024

In February 2024, the Rwandan Urban Consumer Price Index increased by 1.8% month-on-month, from a decrease of 0.1% of the previous month. Year-on-year, inflation stood at 4.9% slightly lower than an increase of 5.0% recorded in January 2024.

Compared to the previous month changes, in February 2024 prices of local goods and services increased by 3.9% y-o-y, lower than an increase of 4.1% y-o-y recorded in January 2024 while prices for imported goods increased by 8.1% y-o-y, which is higher than an increase of 7.5% y-o-y of January 2024.

On a monthly basis, inflation increased by 1.8% in February 2024, compared to a decrease of 0.1% of the previous month. This was due to inflation pressures of ‘Food and non-alcoholic beverages which increased by 3.7% month on month in February 2024 compared to a decrease of 1.3% in January 2024.

Year-on-year, Consumer Price Index increased by 4.9% in February 2024 compared to 5.0% increase in January 2024 due to easing of inflationary pressures from Food and non-alcoholic beverages which increased by +6.3% y-o-y lower than an increase of +7.4% y-o-y of January 2024.

Excluding fresh food products and energy, the consumer price index increased by 5.5% y-o-y in February 2024, which is higher than 5.4% y-o-y of January 2024. Fresh products increased by 3.8% y-o-y in February 2024, which is lower compared to an increase of 4.6% y-o-y of January 2024. Energy prices increased by 3.1% y-o-y in February 2024, which is higher than an increase of 1.8% y-o-y of January 2024.