Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Inflation drops in Kenya

NAIROBI, Kenya, Feb 1 – Kenya’s inflation rate slowed down in the month of January to 4.7 percent from 5.3 recorded in December.

According to figures released by the Kenya National Bureau of Statistics (KNBS) on Monday, the Food and non-alcoholic drinks’ index went down by 0.7 percent from 157.96 points in December to 156.82 points in January.

In a statement, KNBS said this came about as a result of falls in some food prices slightly outweighing the rises in other food commodities.

The prices of maize flour, maize grain, onions, sugar and cabbages fell by 3.64, 6.09, 12.51, 2.11 and 7.20 percent, respectively, while those of tea leaves, beef with bones, fresh milk, fresh fish and eggs went up by 30.57, 1.81, 1.23, 5.48 and 5.76 percent, respectively.

At the same time, consumer prices rose by 0.1 percent from 141.9 points to 142.0 points in January 2010.

The average price of a two-kilogram packet of maize flour for instance declined from Sh87.24 to Sh84.07 while that of maize grains similarly fell from Sh35.69 to Sh33.52 in January 2010.

During the period under review, consumer prices rose by 0.1 percent from 141.9 points to 142.0 points in January 2010.

The fuel and power index was up two percent while that of transport and communication increased by 1.4 percent mainly due to increase in price of paraffin, petrol, charcoal and bus fares.

There was also a general rise in the prices of both bottled and traditional beer among other non-food expenditure.

Advertisement. Scroll to continue reading.

The figures were computed using the new geometric mean approach, through data collected within the second and third weeks of January from selected retail outlets in 13 urban centers.

The new system has been on a trail basis since October and is expected to take full effect in February brining with it a new Consumer Price Index basket. The reconstitution of the basket could bring inflation figures further down.
 

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...

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...

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

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

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

Coronavirus

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