Consumer prices in Rwanda decreased 3.4 percent year-on-year in October of 2018, following a 1.1 percent fall in the previous month. It was the second straight month decline in consumer prices, as cost of food & non-alcoholic beverages dropped faster (-14.2 pct from -9.7 pct in September) and recreation & culture prices fell (-1.0 pct from 1.5 pct). Additionally, inflation slowed for housing & utilities (9.3 pct from 11.7 pct); transport (9.9 pct from 10.2 pct) while was flat for health (from 0.1 pct). On the other hand, prices increased faster for alcoholic beverages, tobacco & narcotics (2.6 percent from 2.2 pct); clothing & footwear (2.9 pct from 2.4 pct); miscellaneous goods & services (3.1 pct from 2.9 pct); furnishings & household equipment (2.6 pct from 1.8 pct) while restaurants & hotels prices went up by 0.3 percent, after being flat in September. On a monthly basis, consumer prices declined 1 percent, compared to a 0.1 percent fall in September. Inflation Rate in Rwanda averaged 6.04 percent from 1997 until 2018, reaching an all time high of 28.10 percent in February of 1998 and a record low of -15.80 percent in February of 1999.
Inflation Rate in Rwanda is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Rwanda to stand at -5.60 in 12 months time. In the long-term, the Rwanda Inflation Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.
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