Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Inflation drops to 26.5pc

NAIROBI, July 31 – Inflationary pressure that has seen the cost of living sky-rocket for Kenyan consumers, seems to be easing for the second month now.

Latest figures from the Kenya National Bureau of Statistics indicate that the country’s annual inflation rate fell from 29.3 percent in June to 26.5 percent in July, as food prices dropped.

Underlying inflation, which excludes the prices of food, rose from 11.2 percent to 12.2 percent due to increases in the cost of electricity, which went up by 51 percent in July.

"The food and non-alcoholic drinks index decreased by 2.9 percent … in July mainly due to decreases in the prices of carrots, tomatoes and onions, among other foods," the Bureau of Statistics said in a statement.

"The fuel and power index rose due to increases in the cost of electricity, and petroleum products, especially paraffin," the statement added.

Last month, the country recorded 29.3 percent inflation compared to 31.5 percent recorded in May.

While releasing last month’s results, the government forecast that once supply constraints issues

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Headlines

NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...