Rwanda experienced a 5% increase in market prices in November 2024 compared to the same month last year, according to the National Institute of Statistics of Rwanda (NISR).
This represents a jump from October’s inflation rate of 3.8%, signaling rising costs across various sectors.
In urban areas, prices increased by 5% year-on-year, while rural areas saw a more moderate rise of 2.4%. In cities, the sharpest increases were observed in transportation, which surged by 15.6%. Housing, utilities, and fuel costs climbed by 4.4%, and food and non-alcoholic beverages increased by 2.1%.
In rural areas, the most significant price hikes were in alcoholic beverages and tobacco (up 14.1%), housing and utilities (up 5.5%), and transportation (up 20.6%).
Across the country, the combined inflation rate for both urban and rural areas stood at 3.4% compared to November 2023. Contributing factors included rising costs in transportation, which jumped by 16.7%, alcoholic beverages and tobacco (up 11.6%), and housing and utilities (up 5%).
The report also revealed that the cost of locally produced goods increased by 5% from November 2023, with a marginal 0.3% rise from October 2024. Imported goods experienced a similar trend, rising by 5.1% year-on-year.
