Consumer Price Index, January 2024

Home / Statistics / Consumer Price Index, January 2024

Consumer Price Index, January 2024

In January 2024, the Rwandan urban consumer price index decreased by 0.1% month-on-month, from a decrease of 2.5% of the previous month. Year-on-year, inflation stood at 5.0% lower than an increase of 6.4% recorded in December 2023.

Compared to the previous month changes, in January 2024 prices of local goods and services increased by 4.1% y-o-y, lower than an increase of 6.0% y-o-y recorded in December 2023 while prices for imported goods increased by 7.5% y-o-y, which is lower than an increase of 7.8% y-o-y of December 2023.

On monthly basis, inflation decreased by 0.1% in January 2024, compared to a decrease of 2.5% of the previous month. This was due to easing of inflation pressures of ‘Food and non-alcoholic beverages which decreased by 1.3% month on month in January 2024 but with lower magnitude compared to a decrease of 6.2% in December 2023.

Year-on-year, consumer price index increased by 5.0% in January 2024 compared to 6.4% increase in December 2023 due to easing of inflationary pressures from Food and non-alcoholic beverages which increased by +7.4% y-o-y lower than an increase of +11.7% y-o-y of December 2023.

Excluding fresh food products and energy, consumer price index increased by 5.4% y-o-y in January 2024, which is lower than 5.7% y-o-y of December 2023. Fresh products increased by 4.6% y-o-y in January 2024, which is lower compared to an increase of 11.0% y-o-y of December 2023. Energy prices increased by 1.8% y-o-y in January 2024, which is higher than an increase of 0.5% y-o-y of December 2023.