Posted on May, 3, 2019 at 09:25 am
By VICTOR AMADALA Business Writer - The Star
April inflation rose to a 12 month high of 6.58 per cent, indicating a tough economic environment endured by Kenyans during the month under review.
The Kenya National Bureau of Statistics (KNBS) has attributed the rise to drought condition which caused an upsurge in the cost of foodstuffs.
"Sifted maize flour, kales, potatoes, loose maize grains and flour and tomatoes recorded increases of 29.82, 25.30, 19.2726.1415.90 and 15.31 respectively, in April compared to March 2019,’’ KNBS said.
This is a 2.13 per cent jump compared to 4.35 per cent reported in March.
According to the statistician, the six items alone accounted for 6.25 per cent of the Consumer Price Index (CPI) weight.
However, prices of sugar and other food items were observed to be lower in April compared to March.
The cost of non-food items like housing, water, electricity, gas and other fuel products increased by 0.93 per cent in April compared to March.
The transport index also increased by 0.86 per cent due to an increase in pump prices.
Inflation Rate in Kenya averaged 9.59 per cent from 2005 until 2019, reaching an all-time high of 31.50 per cent in May of 2008 and a record low of 3.18 per cent in October of 2010.
Source: The Star