Rwanda’s annual inflation rate increased to 8.18 percent in March as food prices and utility costs climbed, the National Institute of Statistics of Rwanda said.
Inflation accelerated from 7.85 percent in February, the Kigali-based agency said in a statement on its website today. Prices rose 2.2 percent in the month as food costs grew 4.4 percent and utilities advanced 2.6 percent, it said. Underlying inflation, which excludes food and energy costs, rose 5.3 percent in the year and 0.4 percent in the month, it said.
Rwanda’s central bank left its benchmark interest rate unchanged at 7 percent last month as it forecast inflation will slow. The National Bank of Rwanda expects to reduce the inflation rate to 7.4 percent by the end of June, Governor Claver Gatete said on March 16.
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