Rwanda food inflation hits new record high of 42.4pc
Items under ‘Food and non-alcoholic beverages’ increased in cost the most. Courtesy Photo
Food inflation in Rwanda continued to rise last month to reach a new record high of 42.4 per cent, further signaling tough times for consumers in the low income and poor category.
The latest Consumer Price Index (CPI), the gauge of the cost of living in the country published Friday by the National Institute of Statistics shows that overall February inflation increased by 30.3 per cent on annual basis and 2.7 percent on monthly basis.
But of over 1,622 products in the household basket that are surveyed, it is items under ‘Food and non-alcoholic beverages’ that increased in cost the most.
In particular, cost of vegetables rose sharply at 74.1 per cent, followed by bread and cereals at 39.9 per cent.
Cost of dairy products and eggs rose by 25.1 per cent, while meat prices rose by 14 per cent. Rwanda remained among 10 countries with the highest food price inflation globally in the latest World Bank assessment released on February 27.
In a separate report last month, which analysed Rwanda’s recent economic developments and prospects, World Bank also indicated that effects of rising inflation could undermine the hard-won socio-economic gains registered over the recent years if not properly addressed.
