KENYA’s inflation rate rises to 5.1pc in May

NAIROBI, Kenya, June 3 – Kenya’s inflation rate rose to 5.1percent in May up from 5.0 percent recorded in the previous Month of April 2024.

Data from the Kenya National Bureau of Statistics (KNBS) showed that the Nation’s Inflation rate has risen to 5.1 percent attributed to unprecedented spike to higher food, transport and energy costs.

“The annual headline inflation rate as measured by the Consumer Price Index (CPI) increased to 5.1 per cent, in May 2024 from 5.0 per cent in April 2024. The price increase was mainly driven by rise in prices of commodities under Transport ,Food and Non-Alcoholic Beverages ,Housing, Water, Electricity, Gas and other fuels between May 2023 and May 2024,” stated KNBS.

KNBS said the general price level in May 2024 was 5.1 per cent higher than that of May 2023.

“The index increased from 138.40 in April 2024 to 139.85 in May 2024 attributing to monthly inflation of 1.0 per cent,” it added.

The report indicated that Food, non food items and fuel prices index increased by 6.2 percent, 3.4 percent and 7.8 percent respectively since May 2023.

Basic food items including onions, tomatoes and  Sukuma Wiki  prices hiked by 67.7 percent,29.7 percent and 27.7 percent respectively  while sifted Maize flour prices increased by 28.1 percent.

Other common food commodity prices that recorded a hike include sugar and White wheat flour which increased by 11.1 and 8.2 percent respectively.

The cost of 50 Kilowatts and 200 Kilowatts electricity prices also hiked by 7.3 and 4.6 percent since May last year

Additionally Diesel, petrol and Kerosene costs increased by 6.4 percent, 5.5, and 4.7 percent respectively.

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