NAIROBI– Kenya’s rate of inflation rose marginally to 4.83 per cent in January 2018 from 4.5 per cent the previous month, according to the Kenya National Bureau of Statistics, which attributes the rise to increases in the prices of some foodstuffs which outweighed the fall in others.
The increase in pump prices of both diesel and kerosene also had a major impact with the transport index recording a 1.53 per cent increase. The food and non-alcoholic beverages index increased by 1.69 per cent in some food prices which outweighed the fall in others.
This consequently led to a slight increase in the rate of inflation by 1.32 per cent to 4.83 per cent well within the government’s target range of between 2.5 to 7.5 per cent.
Foodstuffs which experienced a drop in prices included sugar and mangoes while cabbages and Irish potatoes recorded the highest increases.
During the period under review, the Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.9 per cent. The KNBS attributed this to slight increases in house rents, electricity, charcoal and kerosene.
The increase in pump prices of both diesel and kerosene also had a major impact on the transport index which recorded a 1.53 per cent increase.
Source: NAM NEWS NETWORK