Kenya Inflation Hits Three-month High in July
Consumer prices in Kenya rose in July at the fastest annual rate in three months. Annual inflation rose to 6.27% in July from 5.70% the previous month, according to Kenyan National Bureau of Statistics on Wednesday.
This was attributed to a rise in prices of food and transport costs.
source: tradingeconomics.com
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The cost of maize grain and loose flour, beef with bones, carrots, and onions increased by 0.52, 1.33, 0.23, 6.81 and 1.19 per cent respectively outweighing the reported 1.04 percent decline in the food and non-alcoholic drinks index.
“Nevertheless, although the price of milk, cabbages, and potatoes fell relative to June 2019, they remained well above the July 2018 prices,” said KNBS.
The statistics body further said during the month, Alcoholic Beverages, Tobacco and Narcotics Index increased by 0.82 percent mainly due to the increase in the price of cigarettes. This can be attributed to the government’s decision to impose a 15% tax on the products.
Housing, water, electricity, gas and other fuels’ index rose by 0.14 percentage points while the transport index increased by 0.22 percentage points.
