Kenya’s November Inflation Up at 5.5 Per Cent Backed by Higher Fuel, Food Prices
The prices of goods and services jumped to a six-month high in November according to data from the Kenya Bureau of Statistics.
The consumer price index jumped to 5.5% in November up from 4.9% in October.
The rise was mostly driven by the increase in fuel prices that have spiked the cost of production in the country.
Since April this year, Kenyans have been shielded from the high cost of living by a combination of measures by the government to cushion them from the severe impact of COVID-19.
The government has lowered taxes and offered interest rates moratorium on borrowers.
However, in October, the Kenya Revenue Authority (KRA) adjusted upwards the excise duty on fuel which forced the Energy and Petroleum Regulatory Authority to hike fuel prices.
Kenya National Bureau of Statistics data shows the Consumer Price Index (CPI), which measures the percentage change in the price of a weighted basket of goods and services consumed by households, increased by 1.19% from 109.60 in October to 110.91.
The month-to-month food and non-alcoholic drinks’ inflation was 1.54% while the year-on-year food inflation stood at 6.09%.
KNBS says prices of beef, wheat flour-white, and tomatoes increased by 0.99%, 0.69%, and 0.67%, respectively while those of sifted maize flour, loose maize flour, and carrots dropped by 1.47%,1.52% and 1.11% in that order.
The housing, water, electricity, gas, and other fuels index also increased by 0.07% in November.
The transport index decreased by 0.15%, as the government relaxed travel and curfew restrictions which saw transport activities improve in the sector.