Headline inflation dropped to 4.6 per cent in the month of June after remaining stable in the previous two months at 5 per cent, a new survey from the Kenya National Bureau of Statistics shows.
The Food and Non-Alcoholic Beverages Index increased by 0.7 per cent between May 2024 and June 2024.The prices of cabbage, spinach and kale (sukuma-wiki) increased by 14.8, 11.3 and 10.7 per cent, respectively, between May 2024 and June 2024, which provides national average prices of selected items.Prices of oranges, sugar, maize flour-sifted dropped by 2.5, 2.4 and 2.0 per cent, respectively between May 2024 and June 2024.The Housing, Water, Electricity, Gas and Other Fuels’ Index increased by 0.4 per cent between May 2024 and June 2024 mainly due to rise in prices of 200 kWh and 50 kWh of electricity by 2.9 per cent and 3.4 per cent, respectively. This was in spite of a drop in the prices of gas/LPG and kerosene by 0.3 per cent and 3.4 per cent, respectively, during the period.
The Transport Index dropped by 0.2 per cent between May 2024 and June 2024 mainly due to decrease in prices of petrol and diesel by 1.6 per cent and 3.4 per cent, respectively.
“The annual headline inflation rate as measured by the Consumer Price Index (CPI) was 4.6 per cent, in June 2024. This means that the general price level in June 2024 was 4.6 per cent higher than that of June 2023. The price increase was mainly driven by the rise in prices of commodities under Transport (7.7 per cent); Food and Non-Alcoholic Beverages (5.6 per cent); and Housing, Water, Electricity, Gas and other fuels (3.1 per cent) between June 2023 and June 2024. These three divisions account for over 57 per cent of the weights of the 13 broad categories. The inflation rate was 5.0 per cent in May 2024,” KNBS Director-General, MacDonald Obudho said.
Kenya’s Inflation Rises in May after Consistent Drop Since January – Kenyan Wall Street – African Business and Global Finance
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