Kenya’s inflation has jumped to 6.9 per cent from 6.6 per cent reported by the Kenya National Bureau of Statistics (KNBS) in December.
- The statistics body attributes the high cost of life in January to increases in prices of commodities under Transport (10.6 per cent); Housing, Water, Electricity, Gas and other fuels (9.7 per cent); and Food and Non-Alcoholic Beverages (7.9 per cent).
- The Food and Non-Alcoholic Beverages Index rose by 0.4 per cent between December 2023 and January 2024.
- The prices of cabbages, carrots, oranges and potatoes (Irish) increased by 10.0, 7.4, 3.1 and 1.7 per cent, respectively between December 2023 and January 2024.
During the same period, however, prices of mangoes, tomatoes and sugar dropped by 3.8, 3.6 and 2.2 per cent, respectively.
The Housing, Water, Electricity, Gas and Other Fuels’ Index increased by 1.6 per cent between December 2023 and January 2024 mainly due increase in prices of 200 kWh and 50 kWh of electricity by 11.4 per cent and 13.7 per cent, respectively mainly due to increase in price of foreign exchange rate fluctuation adjustment per kWh by 103.1 per cent.
The price of a litre of Kerosene dropped by 2.4 per cent during the same period.
- The Transport Index dropped by 0.9 per cent during the period, mainly due decrease in prices of petrol and diesel by 2.3 per cent and 2.5 per cent, respectively.
- The year on year inflation for Education Services, which follows a normal seasonal trend, was 2.8 per cent.
- There was an increase of 1.8 per cent in the indices for Education Services between December 2023 and January 2024, ocassioned by rise in tution fees.
The Consumer Price Index (CPI) and inflation is generated from data collected through monthly surveys of retail prices that target a representative basket of household consumption goods and services.
The data collection is conducted in the second and third weeks of the month from a representative sample of outlets located in 50 data collection zones across the country.
Analysis: Kenya’s Economic and Business Outlook for 2024 – Kenyan Wallstreet
