UBOS Report: Transport, Meals and Charcoal Push Annual Inflation Rate Higher to 3.6%
Drake Nyamugabwa
The Annual Headline Inflation as measured by the Consumer Price Index for the year ending May 2024 increased to 3.6% from the 3.2% recorded in April 2024. The main driver was an increase in the Annual Core Inflation which also increased to 3.7% in May 2024 compared to 3.5% recorded in April 2024 with the notable price increase recorded in Passenger transport by road, Meals in restaurants, Refined Oil, and other commodities including Toothpaste, Secondhand Vehicles, Smoked Tilapia among other goods and services.
During the release of the report to the media on 31st May 2024 at UBOS offices, the Principal Statistician at UBOS Mr. Edgar M. Niyimpa said that “The main drier of the core inflation was the annual services inflation that increased to 6.2% in the year ending May 2024 compared to 5.4% registered in the year ending April 2024. This was mainly due to passenger transport by road inflation that increased to 4.4% in the year ending May 2024 compared to 2.2% registered in the year ending April 2024. Meals in restaurant prices increased by 8.1% in the year ending May 2024 compared to 6.3% registered in the year ending April 2024”
He however said that the annual food crop and related items inflation registered a minus 1.4% in the year ending May 2024 compared to minus 2.4% in he year ending April 2024, while the annual fuel and utilities inflation increased driven by solid fuel inflations, especially charcoal and firewood.
UBOS at the same time released the construction input indices and the construction sector inflation for the year ending April 2024 presented to the media by Irene Namugenze, registered at 1.5% compared to 1.7% registered for the year ending March 2024, being driven by inputs into the construction of building especially non-residential building followed by residential building.
In a monthly basis, the construction sector inflation of inputs “increased by 0.1% in the month of April 2024 compared to 0.2% increase registered in the month of March 2024”
This according to Irene was mainly due to an increase in the construction sector inflation of inputs, especially cement, , nails, screws of iron, steel, copper, and concrete bricks among others.
