Business

Rise in Food Prices Pushes Kenya’s Inflation in July to 8.3%

Kenya’s consumer inflation rose to 8.3% year-on-year in July, up from 7.9% a month earlier. On a monthly basis, inflation was 0.7% compared with 0.9% in June.

The Kenya National Bureau of Statistics (KNBS) attributes the rise in inflation to a 15.3% increase in prices of commodities under food and non-alcoholic beverages; 7% increase in transport costs; and 5.6% increase in housing, water, electricity, gas and other fuel costs between July 2021 and July 2022.

The Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households, increased by 0.7% from an index of 124.22 in June 2022 to 125.05 in July 2022.

The month-to-month Food and Non-Alcoholic Beverages Index increased by 1.1% between June 2022 and July 2022.

Compared to June 2022, prices of a kilo of carrots increased by 13% to retail at KSh105.31 in July from KSh93.18 in June. Prices of Maize grain- loose and Non aromatic (unbroken) white rice increased by 4.2%, so that a 1 kilogram pack of loose maize flour retailed at KSh72.32 from KSh65.89.

During the same period, prices of a kilo of onions leeks and bulbs decreased by 5.5% to retail at KSh127.12 from KSh134.58 in June. Prices of a kilo of irish potatoes also dropped by 3.8% to retail at KSh81.66 from KSh84.85 in June.

Alcoholic Beverages, Tobacco and Narcotics Index increased by 1.3% between June 2022 and July 2022, as a result of an increase in prices of beer (lagers and stouts), among other items.

The Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.3% between June 2022 and July 2022 due to increase in prices of house rent single room, among other things.

Despite cooking gas prices dropping by 3.7% between June and July as a result of VAT reduction on LPG, prices of a 13kg cylinder have also gone up 29.5% when compared to July last year.

See Also:

Kenya Set to Hike Interest Rate to Curb Inflation Ahead of August Polls


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