Prices of Locally-Made Products Decreased by 2.5% in June

By The Inspirer.

A new report from the National Institute of Statistics of Rwanda (NISR) shows that prices of locally-made products decreased by 2.5% in June 2024 compared to the same month last year.

This report, known as the Producer Price Index (PPI), tracks the price levels of goods produced in Rwanda on a monthly basis. The latest report indicates a 2.5% reduction in the prices of locally made products in June 2024 compared to June 2023.

Overall, prices of goods produced in Rwanda decreased by 1.9% compared to the same month last year. This decline is attributed to a 2.5% drop in the domestic market prices due to a 3.3% decrease in the production activities of these goods within the country.

When comparing June 2024 to the previous month, prices decreased by approximately 3.6%.

Regarding exports, prices decreased by 0.6% compared to last year, primarily due to a 4.6% reduction in coffee prices. Comparing June 2024 to May 2024, export prices decreased by 6.3% due to a 13.9% decrease in tea prices and a drop in coffee prices.

Some domestic food processing manufacturers, who spoke to RBA, confirmed the price reductions of certain products. Abdou Usanase, who owns a flour-based products factory, explained:

“We reduced the price after conducting research on how to maintain the quality of bread—making it soft, tasty, and nutritious—without making it too expensive. We managed to lower the price to match other breads on the market while keeping its nutritional value.”

However, some traders mentioned that the prices of their goods remained unchanged because they rely on imported raw materials, which have led to increased prices in the market.

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