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Thursday, May 13, 2021

Kenya’s inflation falls to 4.36 percent year on year in July

Kenya’s overall year on year inflation in July 2020 stood at 4.36 percent, according to the monthly Consumer Price Indices (CPI) and rates of inflation report released by Kenya National Bureau of Statistics (KNBS) on Thursday.

The CPI increased by 0.08 percent from 108.27 in June 2020 to 108.35 in July 2020.

Whereas the year on year food inflation increased by 6.62 percent, Food and Non-Alcoholic Drinks’ Index decreased by 0.80 percent in July 2020, compared to June 2020. This resulted from decreases in prices of several food items outweighing the increases

For instance, prices of tomatoes, Irish potatoes, spinach, onions and kale-sukuma wiki, registered decreases of 5.50, 4.09, 3.24, 3.06 and 2.62 percent, respectively in July 2020 compared to the prices in June 2020.

However, during the same period, prices of matumbo, mutton/goat meat and sugar increased by 0.28, 0.58 and 3.65percent, respectively.

During the review period, the Housing, Water, Electricity, Gas and Other Fuels’ Index, decreased by 0.36 percent. This was attributed to lower cost of water vendor services, house maintenance and some house rents.

On the other hand, the cost of electricity and kerosene went up by 0.5 percent and 4.11 percent, respectively.

The transport Index increased by 4.01 percent mainly due to increase in the pump prices of diesel and petrol by 22.32 percent and 12.21 percent, respectively.

The numbers were generated from a survey of retail prices that targeted a basket of household consumption goods and services.

The survey was conducted during the second and third weeks of the month, with prices being obtained from selected retail outlets located in 50 data collection zones, of which 14 are in Nairobi and 36 in other urban areas.

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