The jump in the price of fuel and some food items last month pushed up the February inflation rate to 5.78%, the highest level in nine months. The inflation rate rose from 5.69% in January 2021.
The consumer price index, which measures the price of everyday household goods such as food, clothing, and transport, rose by 0.7% to 113.4 in February from 112.6 in January according to data from the Kenya National Bureau of Statistics. That was the fifth month of continuous gain in consumer prices.
The price of kerosene, diesel, and petrol jumped from January to February by 6.02%, 5.66%, and 7.57% respectively as the global demand for oil increased. Similarly, the price of food items like cabbage, spinach and cooking oil increased by 4.40%, 4.38% and 3.86% respectively.
The price of housing, water, electricity, gas, and other fuels’ index went up by 0.43% between January 2021 and February 2021 mainly due to the increase in fuel price in that period.
As expected, the transport index increased by 2.33%, pushed up by the rise in the price of petrol and diesel which jumped by 7.57% and 5.66% respectively between January and February.
The Kenya shilling remained stable against major world currencies in February, exchanging at KSh 109.77 per US dollar on February 25, compared to KSh 110.15 per US dollar on January 28.