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The headline PMI, which was characterized by pandemic-related fall in sales and job numbers decline, was down from February’s 49/FILE

Finance

Kenya’s inflation hits 5.70 per cent over high price commodities

KNBS attributes the surge to the increase in the price of commodities such as housing, water, gas and select foodstuffs/CFM-FILE.

NAIROBI, Kenya, Jun 28 – Kenya’s inflation rate has increased to 5.70 per cent for the month of June 2019, compared to 5.49 in May 2019.

Kenya National Bureau of Statistics (KNBS) attributes the surge to the increase in the price of commodities such as housing, water, gas and select foodstuffs such as maize grain, beans, green grams and sifted maize flour whose prices went up during the month.

The rise was recorded despite the decrease of the overall food and non-alcoholic drinks’ index which went down by 1.60 percent, compared to a decline of 0.37 percent in May 2019.

Overall, year on year inflation jumped from 4.28 in June 2018 to 5.70 June 2019.

The monthly KNBS survey, however, noted the index on alcoholic beverages and tobacco increased by 0.54 percent, while the transport index increased by 0.26 percent on account of an increase in pump prices of petrol and diesel.

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.

“The prices were obtained from selected retail outlets in 25 data collection zones spread across Nairobi and 13 other urban centers,” KNBS says in the statement.

The inflation rate has over the last six months been unpredictable from a high of 6.58 percent in April and as low as 4.14 percent in February.

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