The Kenya National Bureau of Statistics has rebased Consumer Price Index (CPI) and Producer Price Index (PPI) to reflect the current situation. The new Consumer Price Index features a basket of 330 items compared to 234 items previously used in the computation of the index. Further, the weights in the rebased CPI have been updated and the expenditure groups have been recalculated, based on the 2015/16 Kenya Integrated Household Budget Survey.
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The statistics agency also released the inaugural quarterly labor statistics meant to track the labor economy.
The review of the CPI is meant to reflect changed production patterns and a new industrial structure. KNBS further notes that the Quarterly Labour Force Survey will more accurately measure key labour statistics, including labour force participation, employment and labour utilisation.
The new product offering is meant to enhance the quality of statistics especially the measurement of inflation which aids in decision making for policymakers. KNBS ensured harmonisation of the revision exercise by dropping obsolete items and including new, more relevant items in line with COMESA and EAC regulations.
