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Kenya

November inflation hits a 4-year-low due to better weather conditions

The inflation rate has over the last six months been on a gradual decline from a high of 11.7percent in May, with food prices the biggest contributing factor weighted at 36.04 by the KNBS index

NAIROBI, Kenya, Dec 1 – Kenya’s inflation rate has dropped further to 4.73 percent for the month of November compared to 5.72 percent in October due to favorable weather conditions leading to a reduction of cost of food.

The Kenya National Bureau of Statistics latest survey carried out in Nairobi and across 13 other urban cities shows that food and non-alcoholic beverages reduced by 1.33 leading to the lowest inflation rate in more than four years.

The monthly KNBS survey, however, noted the index on housing and amenities such as water, electricity and gas increased by 1.74 percent due to an increase in the cost of house rents and an increase in fuel cost adjustment charges.

The Consumer Price Index was generated by conducting a survey of retail prices for a basket of household consumption goods and services during the second and third weeks of the month under review.

Restaurants and Hotels prices dropped the most year on year by 5.89 percent from 2016 followed by food and non-alcoholic beverages at 5.79 percent.

The inflation rate has over the last six months been on a gradual decline from a high of 11.7percent in May, with food prices the biggest contributing factor weighted at 36.04 by the KNBS index.

In November, carrots, cabbages and tomatoes had the highest drop in price.

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