Kenya Feb Inflation Rate Falls to 6 month low of 4.14%
Kenya ‘s inflation rates for February fell to 4.14 per cent from 4.70 per cent in January, National Bureau of Statistics has reported. It is the lowest inflation rate since August 2018 when it touched 4.04%.
According to the KNBS report, the cost of several foodstuffs in January 2019 was much lower compared to the same period of the previous year. Maize grain, the country’s most common food item, recorded a drop of 41.0 per cent from Ksh.60.37 per kilogramme in February 2018 to Ksh.35.63 in February 2019, a similar trend observed in January.
“Similarly, the prices of sifted maize flour, spinach and tomatoes declined by 30.68, 20.66 and 16.63 per cent, respectively. These lower prices contributed to a relatively low overall inflation in February 2019,” the report stated.
Nonetheless, the KNBS report states that the Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.12 per cent in February compared to January 2019 mainly due to high cost of house rents and cooking fuels.
“Partly contributing to this, were prices of domestic consumption of electricity which increased by 2.48 and 1.70 per cent for 50 Kwh and 200 KWh, respectively on account of increase in fuel cost and inflation adjustment charges,” the report added.
Due to the decreased prices in pump prices of diesel and petrol, the transport Index declined by 0.50 per cent, a positive outlook for the transport sector in 2019.