Consumer Price Index, December 2019

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Consumer Price Index, December 2019

 

In December 2019, the Rwandan urban consumer price index decreased by 0.3% month-to-month lower than an increase of 1.9% achieved in the previous month. Year-on-year, inflation stood at 6.7% compared to 6.9% reached in November 2019. Growth slowed down in prices of both local goods and services (7.4% compared to 7.5% in November) and imported ones (4.7% after 4.9% previously).

 

On monthly basis, the negative inflation was due to easing pressures from food and non-alcoholic beverages whose prices decreased by 1.8% in December down from 3.7% recorded in the previous month. Prices reduced particularly for fruits including oranges (local and imported ones), lemon, mango, papaya, as well as for maracouja and for vegetables like fresh beans, green peas, cabbage, eggplant, onion and tomato among others. Overall, there was a notable decrease in prices of fresh products (- 2.8% in December compared to an increase of 6.7% realized in the previous month).

 

Year-on-year, consumer price index rose by 6.7% slightly lower than 6.9% in November 2019 partly due to easing inflation pressures from food and non-alcoholic beverages (14.9% compared to 16.2% in November), clothing and footwear (8.2% compared to 8.3% in November) which partly offset a continuing rise in prices of alcoholic beverages and tobacco (20.6% against 17.2% in November) and the uptick in prices of housing, water, electricity, gas and other fuels (2.2% after 2.0% in November 2019).

 

Excluding fresh food products and energy, consumer price index increased by 3.6% in December slightly faster than 3.4% recorded in November 2019, reflecting a slowdown in prices of fresh products (+ 23.6% in December compared to 25.3% in November 2019) despite a continuing hike in energy prices (+2.5% from 1.6% in November).