Inflation Rwanda 2022
Average inflation: 17.7%
Current Inflation
Inflation is very high at 17.7%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 33.8%. The lowest inflation was in January at 1.3%.
- Highest month
- November: 33.8%
- Lowest month
- January: 1.3%
- Difference
- 32.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 29.4%. The lowest price increase was in Energy with an average of 11.0%.
- Highest increase
- Food: 29.4%
- Lowest increase
- Energy: 11.0%
Historical Context
Current inflation is 11.6% higher than the 5-year average of 6.1%. This approaches the highest level since records began (17.7% in 2022).
- 5-year average
- 6.1%
- 10-year average
- 5.7%
- All-time high (2022)
- 17.7%
- All-time low (2021)
- -0.3%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +18.0 percentage point.
- Change vs. previous year
- +18.0 percentage points
- Largest monthly swing
- November: +37.2 percentage points
ECB Target
Inflation is 15.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €117.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 1.3% | -2.2 |
| February | 4.2% | +2.0 |
| March | 5.6% | +3.9 |
| April | 10.5% | +7.8 |
| May | 14.8% | +14.4 |
| June | 16.1% | +16.0 |
| July | 19.6% | +20.7 |
| August | 20.4% | +22.2 |
| September | 23.9% | +27.1 |
| October | 31.0% | +34.3 |
| November | 33.8% | +37.2 |
| December | 31.7% | +33.7 |
| Average | 17.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.