Central banks raise lending rates to manage inflation

Inflation.

Rising inflation is a big concern for regional central banks. PHOTO | FILE

The war between Russia and Ukraine has taken a toll on the Rwandan economy, leading to a sharp increase in the prices of imported commodities including oil, gas, fertilisers, and sunflower seed oil.

And, in spite of a subsidy, Rwanda raised the price of fuel this week. This is in addition to a drop in domestic food supply linked to climate change, and increased prices of inputs leading to higher cost of food.