Home NEWS Local News Kenya’s inflation rate drops to 6.7pc in August

Kenya’s inflation rate drops to 6.7pc in August

Kenya’s inflation rate stands at 6.7 per cent down from an inflation rate of 7.3 per cent in July 2023.

According to data released by the Kenya National Bureau of Statistics (KNBS), the prices of food commodities reduced in August compared to July.

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The prices of cooking oil decreased by 1.2pc, maize grains 8.2pc, fortified maize flour 6.1pc, beans 1.3pc, potatoes 3.5pc, and cabbages 2.6pc.

However, the prices of sugar increased by 3.2pc while mangoes increased by 6.1pc.

“Food and non-alcoholic beverages index increased by 7.5 per cent, on a month-to-month basis, it decreased by 0.5 per cent between July 2023 and August 2023,” said KNBS.

Source: KNBS

Regarding non-food items, the 13kg cooking gas recorded a decrease of 2.8pc, attributed to the reduction of levies on Liquefied Petroleum Gas (LPG).

The cost of electricity rose by 1.5pc and 1.8pc for those using 200Kw and 50Kw, respectively.

Additionally, the monthly rent for a single room increased by 0.4pc.

“The prices of petrol and diesel remained unchanged between July 2023 and August 2023, the transport Index went up by 0.3pc during the period mainly due to increase in prices of country bus fares for some routes,” said KNBS.

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