Kenya: Declining Food, Gas Prices Hold October Inflation Steady At 4.6pc
Nairobi — Kenya’s inflation rate remained unchanged at 4.6 percent in October, supported by falling prices of key household commodities such as maize flour, sugar, and cooking gas, according to data from the Kenya National Bureau of Statistics (KNBS).
The Consumer Price Index (CPI) shows that the average price of a two-kilogram packet of fortified maize flour dropped from Sh172.41 in September to Sh168.56 in October.
A kilo of kale decreased by one percent to Sh91.56, while beans fell by 0.6 percent to Sh180.99. Similarly, the price of sugar declined by 0.5 percent.
The stability in consumer prices comes on the back of a 25 basis points reduction in the Central Bank of Kenya’s (CBK) benchmark lending rate to 9.25 percent earlier this month, aimed at easing inflationary pressure.
Meanwhile, the Energy and Petroleum Regulatory Authority (EPRA) maintained fuel prices, keeping super petrol at Sh184.52, diesel at Sh171.47, and kerosene at Sh154.78 per litre.
However, electricity and some food items recorded marginal price increases. The cost of 50 kilowatts of electricity rose by 3.3 percent to Sh1,315.8, while potatoes went up by 1.6 percent to Sh92.69 per kilo, and tomatoes increased by 1.2 percent to Sh87.88.
Analysts say the steady inflation reflects easing food and energy costs, offering relief to consumers amid a gradually improving economic environment.
By Capital FM.
