Khusoko – East African Markets
    Facebook Twitter Instagram
    Khusoko – East African MarketsKhusoko – East African Markets
    • NEWS
    • ECONOMY
      • BANKING & FINANCE
      • COMPANY
      • MARKETS
    • INDUSTRY
      • AGRICULTURE & ENVIRONMENT
      • HEALTH & WELLNESS
      • PROPERTY
        • RETAIL
      • TECHNOLOGY
        • ELECTRONICS
    • ENTREPRENEURSHIP
      • ENTREPRENEURS
      • PEOPLE
      • PERSONAL FINANCE
    • SPORTS
    • COMMENTARY
    • ARTS & CULTURE
      • BOOKS
      • ENTERTAINMENT
      • FAMILY & RELATIONSHIPS
      • FASHION & STYLE
      • FOOD & DRINK
      • TRAVEL & LEISURE
    Khusoko – East African Markets
    NEWS

    Kenya October inflation declines by 0.2pct against expectations

    KhusokoBy Khusoko2018-10-31No Comments2 Mins Read

    Kenya’s inflation rate for the month of October marginally declined to 5.5% from 5.7% recorded in September attributed to a reduced food, non-alcoholic and transport index according to the statistics body.
    On Wednesday, the Kenya National Bureau of Statistics noted that the 1.8% decline in the food and non-alcoholic beverages index was mainly due to lower prices of maize and maize products compared to September.
    “The price of a 2kg packet of sifted maize flour dropped by 14.4% from an average of Ksh 97.88 in September to 83.83 in October. During the same period, prices of various vegetables were lower…the year on year food inflation was 0.52% in October,” said Zachary Mwangi, Director General, KNBS.
    Consequently, the 0.9% decline in the transport index was due to a 0.9% drop in average petrol prices.
    “This was against broader expectations of accelerated pressure due to recent tax measures,” noted Faith Atiti and Stephanie Kimani, CBA Group Economic Analysts.
    Earlier, they had said inflation would rise further as effects of new taxes become more apparent, but the fairly low food prices could still keep it below the upper limit of the inflation target at ‘about 7.0%’.
    However, “Benign food inflation outlook could in the near term partly offset the lagged effects of higher international oil prices and the 8.0% VAT on fuel.”
    “Even then, as a potential pressure point, we continue to monitor the shilling which has lost 1.1% in the last one week.”

    inflation
    Khusoko

    Multimedia platform providing analysis of business & financial news in East Africa.

    Related Posts

    Pesapal Unveils Real-Time Payments Settlement In Kenya

    2023-06-01

    Menstrual Health and Hygiene: Rubis Energy Kenya Support For GirlsRun Initiative

    2023-05-29

    Strengthening Regional Trade Key to Africa’s Recovery Agenda

    2023-05-23

    Leave A Reply Cancel Reply

    Our Language is Flirty
    https://www.facebook.com/flirtynailsparlour/
    MORE TOP STORIES
    • Faith Kipyegon Smashes 1500m World Record in Florence in 3:49.11
    • John Ngumi Steps Down From Kenya Airways Board
    • Court Orders Winding Up of Debt Ridden Tuskys Supermarket
    • How to Choose the Right Forex Trading App for Your Needs
    • Xiaomi Moves Up on BCG’s Most Innovative List on Increased Investment
    • Facebook
    • Twitter
    • LinkedIn
    Facebook Twitter LinkedIn
    • ABOUT US – KHUSOKO
    • PRIVACY POLICY
    • KHUSOKO STANDARDS GUIDE
    © 2023 Khusoko. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.