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Kenya’s inflation rate falls 6.84 pc buoyed by stable food prices

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Kenya’s year-on-year inflation rate slowed to 6.84 per cent in February from 7.78 per cent the previous month, according to Kenya National Bureau of Statistics (KNBS).

February’s rate is the lowest in over a year when it stood to 5.61 per cent in February 2015.

The fall was largely attributed to the steadiness in the prices of key food items and non-alcoholic drinks between January and February this year – while alcoholic beverages, tobacco and narcotics remained higher than in the same month last year due to higher excise duty levied on the products.

“Food and non-Alcoholic drinks’ index decreased by 0.43 per cent and this resulted from notable decreases in prices of key food items which slightly outweighed the increases,” read the statement in part.

On the other hand water, electricity, gas and other fuels’ index decreased by 1.81 per cent with the decline blamed on the fall in prices of kerosene and cooking gas – while electricity costs remained stable in the period under review.

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Food prices and those of key household commodities were obtained from selected retail outlets in 25 data collection zones in Nairobi and thirteen other towns.

Household items like maize flour, rice, cooking oil, tomatoes, sukumawiki, bread and milk among others have remained stable since December last year and the momentum in terms of food prices is likely to carry on due the anticipated long rains in March and April – with the ripple effects of the rains further expected to sustain the food market to the first few weeks of the second quarter of the year.

 

 

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