Kenya’s inflation rate fell to 4.70 percent in January from 5.71 percent in December as the prices of food, housing and transport depreciated. It is the lowest since August 2018, which comes below the market expectations of 5%.
According to the Kenya National Bureau of Statistics report, the cost of several foodstuffs in January 2019 was much lower compared to the same period of the previous year – mainly attributed to a sharp drop of maize flour prices to KSh35.25 per kilogram, a 40.6 per cent drop from KSh59.90 per kilogram it recorded in January 2018.
“Over the same period, the Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.20 per cent as a result of higher cost of house rents and cooking fuels,” says KNBS’ Consumer Price Indices and Inflation Rates report.
The Transport Index decreased by 1.40 per cent, mainly due to decreases in pump prices of petrol and diesel.
