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Inflation in Kenya edged up to 5.6% in March 2022 from 5.1% in February, a spike attributed to a rise in the price of food, housing, water, electricity, gas, fuel and transport.
Kenya National Bureau of Statistics (KNBS) figures indicate that March saw an increase in the price of cooking oil, wheat flour and tomatoes by 6.50%, 4.47% and 4.22%, respectively, relative to February 2022.
During the same period, prices of green grams, carrots and oranges decreased by 0.97, 0.69 and 0.49 per cent, respectively.
Prices of food items in March 2022 were relatively high compared with prices of food items recorded in March 2021.
The month also saw a rise in furnishings, household equipment and routine household equipment index by 1.36 per cent between February 2022 and March 2022.
KNBS attributes this trend to an increase in prices of laundry/bar soap and detergents, among other items.
The March Electricity, Gas, Water and Other fuels index increased by 0.71 per cent between February 2022 and March 2022.
During this period, the price of cooking gas (LPG) rose by 7.76 per cent.
Transport Index increased by 0.63 per cent between February 2022 and March 2022, pushed up by the increased price of petrol and diesel, which rose by 3.83 per cent and 4.49 per cent, respectively.
Analysts attribute to rise in Kenya’s inflation in March 2022 to the war in Ukraine, which has pushed up food prices, including wheat. This breaks an easing trend that has been there for the past five months.
Kenya’s inflation quickened in March, stoked by higher food prices such as wheat due to the war in Ukraine, reversing a five-month easing trend.
The spike in inflation comes after the Central Bank of Kenya(CBK) top policy organ, held the Central Bank Rate(CBR) at 7% as it sees inflation anchored within its target range of 2.5% to 7.5% in the near term.
CBK warned that of risks to its outlook from supply shocks caused by sanctions on Russia and the war in Ukraine.
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