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
    MARKETS

    Cost of Living Eases in May due to Lower Food Prices

    David IndejeBy David Indeje2019-05-31Updated:2019-05-31No Comments2 Mins Read
    Inflation Dropped 4.36 pct in July On Cheap Food and Housing Cost

    The cost of living in Kenya eased slightly in May to 5.49% compared to 6.58% in April on account of favourable weather conditions which resulted in lower food prices.

    “The food and non-alcoholic drinks index decreased by 0.3% in May mainly due to favourable weather conditions which led to lower prices for some commodities,” the Kenya National Bureau of Statistics Director General Zachary Mwangi said in a statement on Friday.

    However,  housing, water, electricity, gas and other fuels index increased by 0.61 percentage points due to the higher cost of rent and cooking fuels.

    On Monday, the Central Bank of Kenya (CBK) when it held its benchmark lending rate at 9.0% it said there was a need to remain vigilant on inflation.

    “The Committee noted that inflation expectations remained well anchored within the target range, but there is need to remain vigilant on possible spillovers of recent food and fuel price increases,” said Dr. Patrick Njoroge, Chairman, Monetary Policy Committee.

    “Overall inflation is expected to remain within the target range in the near term largely due to expectations of lower food prices following improving weather conditions and lower electricity prices with the reduced usage of expensive power sources. Additionally, a timely release of maize stocks from the Strategic Grain Reserve will support the stability of food prices,” said the bank in a statement.

    inflation
    David Indeje
    • Website
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn

    In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

    Related Posts

    Kenya’s Central Bank Keeps Lending Rate Steady at 9.50%

    2023-05-29

    Finance Bill 2023: Kenya’s Most Extensive in The Recent Past

    2023-05-28

    IMF Staff, Kenya Reach Agreement for Kshs 56.58 Bn

    2023-05-23

    Leave A Reply Cancel Reply

    Our Language is Flirty
    https://www.facebook.com/flirtynailsparlour/
    MORE TOP STORIES
    • Oppo Launches Find N Flip its Foldable Smartphone in Kenya
    • Kenya’s Central Bank Keeps Lending Rate Steady at 9.50%
    • Investing in Healthcare: M-PESA Foundation’s KSh 46 Mn Investment in Medical Camps
    • Do You Feel Sudden Heavy Emotions? Here’s How to Manage It
    • CAK Approves Hope Advancement’s 51pct Acquisition of Smep Microfinance Bank
    • 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.