Business

Kenya: May inflation eases to 5.47% despite rising Consumer Price Index

Last updated on September 11th, 2021 at 02:47 pm

The country’s year-on-year inflation rate eased to 5.47 per cent in May from 5.62 per cent in April, latest data by the Kenya National Bureau of Statistics (KNBS) indicate.

This is despite a 0.63 per cent increase in overall Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households.

CPI increased from 107.92 in April to 108.60 in May.

Overall inflation opened the year at 5.78 per cent(January) before rising to 6.80 per cent in February. It later eased to 5.51 per cent in March.

This month’s drop was as a result of a reduction in prices of some household commodities such as avocado which retailed at Sh67.69 a kilo, down from Sh70.89 a kilo in April.

A kilogramme of irish potatoes also went down to Sh71.63 from Sh74.29 while that of tomatoes dropped to Sh115.89 from Sh119.47 last month.

“Prices of some food items such as avocado, irish potatoes and tomatoes decreased by 4.50, 3.58 and 3.0 per cent , respectively,”KNBS director general Zachary Mwangi noted in a statement on Friday.

Food and non-alcoholic drinks index however increased by 0.86 per cent between April and May as year-on-year food inflation stood at 10.55 per cent in the month under review.

(TheStar)

Albert Echetah

Recent Posts

Famine Risk Reaches Critical Levels as FoodCrisis Deepens In Gaza

Gaza’s hunger crisis is not only statistic, but a set of narratives such as Yasmin Eid, amother of six, who…

November 22, 2024

Kenya Launches Official Probe intoUgandan Leader’s Alleged Kidnapping

The government of Kenya announced that it is looking into the suspected kidnapping ofKizza Besigye, a well-known opposition politician from…

November 22, 2024

At least 7 members of the Nigerian security forces are missing after insurgentsambushed their convoy

A team of 80 security agents tasked with protecting the electricity grid was ambushed onMonday in Shiroro, Niger State, by…

November 21, 2024

Cryptocurrency Gains Momentum inAfrica Amid Global Shifts in Trump’sElection

Cryptocurrency becomes the new thing in Africa. People shift for stable alternatives aftertheir unstable local currencies. Many people believe Donald…

November 21, 2024

UAE Delivers Lifeline: 30,000 Food BasketsBring Hope to Sudanese Refugees in Uganda

UAE has also distributed 30,000 food baskets to Sudanese refugees in Kiryandongo refugeecamp Uganda to benefit nearly 100,000 affected people.Aid…

November 21, 2024

Turkey wants to increase its trade with Africa to 50 billion dollars

The trade volume between Türkiye and 54 African countries has grown sevenfold, reaching $37 billion from 2003 to 2023, Yılmaz…

November 20, 2024

This website uses cookies.