The Kenya National Bureau of Statistics (KNBS) has announced a slight increase in the country’s annual headline inflation rate to 5.1% in May 2024, up from 5.0% in April.
This rise indicates that the general price level in May 2024 was 5.1% higher than in May 2023, according to the latest Consumer Price Index (CPI) report.
The Food and Non-Alcoholic Beverages Index jumped by 2.0% between April and May 2024.
Specific items such as spinach, kale, tomatoes, and potatoes saw significant price hikes, with increases of 18.2%, 15.0%, 14.0%, and 6.2%, respectively.
However, prices of maize flour-sifted, 2kg packet of fortified maize flour, maize grain-loose (1kg) and 2kg packet of wheat flour-white decreased by 3.2%, 2.3%, 1.6% and 1.3% respectively.
KNBS Report
A 2kg packet of maize flour, according to the KNBS, was selling at Ksh137. KNBS also detailed that the average price of a 2kg packet of wheat flour averaged at Ksh183.
In its May report, sugar prices averaged Ksh172, a drop of Ksh1 from the data recorded in April.
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In the Housing, Water, Electricity, Gas, and Other Fuels category, there was a 1.2% increase in the index from April to May. Notably, electricity prices for 200 kWh and 50 kWh rose by 6.9% and 5.5%, respectively, while prices for gas and kerosene fell slightly.
“This was mainly due to rise in prices of 200 kWh and 50 kWh of electricity by 6.9 per cent and 5.5 per cent, respectively,” KNBS says.
“However, the price of gas/LPG and kerosene dropped by 0.6 per cent and 1.0 per cent, respectively, during the period,” KNBS added.
Consumer Price Index Increase
The CPI increase was primarily driven by higher prices in the Transport sector (8.1%), Food and Non-Alcoholic Beverages (6.2%), and Housing, Water, Electricity, Gas, and other fuels (4.4%). These three categories account for over 57% of the total CPI weighting.
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The Transport Index experienced a modest increase of 0.2% from April to May. Despite this, prices for petrol and diesel decreased by 0.5% and 0.7%, respectively.
The detailed CPI report and inflation rates for May 2024 highlight the dynamic nature of Kenya’s economy and the ongoing efforts of KNBS to enhance the quality and transparency of its statistical services.
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