In October 2024, Rwanda experienced notable shifts in its Consumer Price Index (CPI), a key economic indicator published by the National Institute of Statistics of Rwanda (NISR).
The urban CPI, the primary index for policy decisions, recorded an annual increase of 3.8%, reflecting a continued rise in consumer prices in the country’s urban centers.
Compared to September 2024, urban prices increased by 1.5%, showing persistent inflation pressures on monthly and yearly scales.
Significant price increases were observed in several essential categories. Food and non-alcoholic beverages rose by 3.7% over the past month, although the year-on-year comparison showed a 1.0% decrease, largely due to seasonal factors.
However, specific food items like meat and dairy products surged significantly, with annual increases of 22.4% for meat and 14.8% for milk, cheese, and eggs.
These rises indicate growing cost pressures on protein sources, which may impact household budgets and dietary choices.
In rural areas, the CPI tells a different story, with an annual decrease of 1.5%, though October saw a monthly rise of 2.5%.
Vegetable prices in rural markets, for example, fell by 12.2% year-on-year but increased by 3.6% over the month, highlighting the seasonal volatility and other factors affecting rural food markets.
Meanwhile, the meat sector in rural areas mirrored urban price trends, with an annual rise of 21.5%, indicating that meat prices are affected nationwide by factors such as supply chain disruptions or higher input costs.
Across the nation, the general CPI registered a modest yearly increase of 0.5%, alongside a 2.1% monthly rise, emphasizing sustained inflation across both urban and rural landscapes.
Transport costs showed one of the highest yearly increases, with urban transport prices surging by 15.9% and rural areas seeing an even higher 20.7% rise.
Housing-related costs, encompassing water, electricity, gas, and other fuels, rose by 4.8% over the year.
Rwanda’s CPI offers an essential snapshot of inflation trends, serving as a basis for economic policies and giving insights into household purchasing power across different regions.
By tracking over 1,600 products monthly across a variety of urban and rural markets, the CPI provides a comprehensive view of cost-of-living trends. The October 2024 report reflects both global and local economic factors affecting Rwanda’s households, with food, transport, and housing showing significant price shifts.
