Kenya's inflation down to 11-year low in September
By Alfred Onyango |
The record is the lowest in the past decade as a similar mark was recorded in January 2013.
A drop in prices of some food commodities and power in September pushed down the level of inflation to 3.6 per cent from 4.36 in the previous month.
The record is the lowest in the past decade as a similar mark was recorded in January 2013.
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Latest figures by the Kenya National Bureau of Statistics (KNBS) shows prices of sugar, wheat flour-white and fresh packeted cow milk decreased by 2.8, 2.1 and 0.6 per cent respectively between August 2024 and September 2024.
Conversely, prices of oranges, potatoes (Irish), fresh fish and beef with bones rose by 5.2, 2.3, 2.1 and 0.9 per cent, respectively, in the period under review.
"Generally, the Food and Non-Alcoholic Beverages Index increased by 0.4 per cent between August 2024 and September 2024," KNBS notes in a statement.
On the other hand, the Housing, Water, Electricity, Gas and Other Fuels' Index decreased by 0.1 per cent in the period under review, attributable to a decrease in prices of kerosene, 50 kWh of electricity and 200 kWh of electricity by 2.1, 0.8 and 0.7 per cent respectively.
The Transport Index increased by 0.1 per cent mainly due to the increase in prices of city bus fares.
During the same period, prices of petrol and diesel remained unchanged.
Compared to the same period last year, the 3.6 per cent mark means the general price level was 3.6 per cent higher in September 2024 than it was in September 2023.
"The price increase was mainly driven by the rise in prices of commodities under Food and Non- Alcoholic Beverages (5.1 per cent); Housing, Water, Electricity, Gas and other fuels (2.6 per cent) and Transport (0.5 per cent) between September 2023 and September 2024," KNBS says.
These three divisions account for over 57 per cent of the household's consumed commodities.
Notably, the statistics body says the low and stable exchange rate has provided support in easing the inflationary pressures that have been witnessed in the past year.
The Central Bank of Kenya quoted the average exchange rate of the shilling against the dollar at 129.19 on Wednesday, a level it has maintained for almost a month.
The local currency weakened against the dollar to a low of 161 in January this year, a decline that began in early 2020.
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