Rwanda Inflation Rate Continues to Accelerate

Rwanda's overall inflation rate quickened further to 26.5% in October 2026 from 20% in September, reaching its highest level since April 2023. The acceleration reflects mounting agricultural supply constraints, as weather-related disruptions weigh on crop yields and fresh food availability, while higher energy, fertiliser and transportation costs continue to feed through to consumer prices. Food and non-alcoholic beverages, the largest component of the country's inflation basket, remained the main driver of price pressures, with annual inflation accelerating to 39.1% in October from 25.2% in September. Vegetable prices saw the sharpest increase, surging by 63.7%, while meat prices rose by 20.3% and milk, cheese and eggs by 19.7%. Other significant contributors included communication (29.1%), transportation (25.9%), restaurants & hotels (18.1%) and education (18%). On a monthly basis, the CPI rose by 6.5%, after a 5% advance previously.

Rwanda's overall inflation rate accelerated for the sixth straight month to 20.0% in September 2026 from 15.9% in August, marking the fastest increase since June 2023. The acceleration came as inflation for food and non-alcoholic beverages, the largest component of the inflation basket, surged to 25.2%, the highest since September 2023, from 16.7% in August. Inflation also accelerated for communications (29.1% vs 27.6% in August), restaurants and hotels (16.0% vs 13.7%), furnishings (10.8% vs 10.2%), and clothing and footwear (5.3% vs 5.0%). Meanwhile, inflation eased for transportation (26.0% vs 27.5% in August) and housing and utilities (19.1% vs 19.9%). On a monthly basis, the CPI rose by 5.0%, following a 2.6% gain in the prior month, marking the fastest pace in five months.

Rwanda's overall inflation rate climbed further to 15.9% in August 2026, a fresh high since September 2023, from 13.8% in July. Inflation has now accelerated for five consecutive months. Strong price pressures stemmed from transportation (27.5% vs 27.5% in July); communications (27.6%); housing & utlities (19.9% vs 20.5%); food & non-alcoholic beverages (16.7% vs 12.6%) and restaurants & hotels (13.7% vs 12.8%). On a monthly basis, the CPI surged by 2.6%, the steepest increase in four motnhs, after a 0.3% rise in the prior month.