Rwanda's annual inflation rate rose to 2.3 percent in August 2019 from 1.6 percent in the previous month. It was the highest inflation rate since October 2017, mainly due to higher prices of food & non-alcoholic beverages (3.7 percent vs 0.6 percent in July), namely bread & cereals (11 percent) and meat (15.7 percent). On a monthly basis, consumer prices were up 1.8 percent, after dropping 0.1 percent in the previous month. Inflation Rate in Rwanda averaged 5.80 percent from 1997 until 2019, 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 3.40 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 2.20 in 12 months time. In the long-term, the Rwanda Inflation Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.