NAIROBI, Kenya Nov 30 – The Kenya National Bureau of Statistics (KNBS) has reported a slight increase in the inflation rate to 2.8% in November 2024, up from 2.7% recorded in October.
According to the KNBS report, the rise is attributed to the increased prices of key commodities, particularly food and non-alcoholic beverages, which saw a 0.6% hike in October.
“Overall year-on-year (annual) inflation rate, as measured by the Consumer Price Index (CPI), was 2.8% in November 2024, marking a slight increase from 2.7% in October 2024. The month-to-month inflation rate was 0.3% in November 2024,” the report stated.
Kenya’s medium-term inflation target is between 2.5% and 7.5%.
The report highlighted notable price increases in essential food items: cooking oil rose by 3.1%, sugar by 5.3%, and sifted maize flour by 5.1% during the review period.
Conversely, the cost of electricity, water, gas, and other fuels decreased slightly by 0.1%, driven by a 1.1% drop in LPG gas prices and a 0.3% reduction in electricity costs.
KNBS conducts retail price collection for the CPI in the second and third weeks of each month across 50 sampling zones, including 14 in Nairobi and 36 in other urban areas. Nairobi zones cover outlets in lower, middle, and upper-income areas.
About The Author
Leave a Reply