Rising food prices push up inflation by 6.47 per cent, says KNBS

Kenya’s year-on-year inflation edged up 6.47 per cent in October, from 6.34 per cent last month, driven mostly by food prices, the Kenya National Bureau of Statistics has said.

The Bureau said in a statement that on a month-on-month basis, the inflation was at 0.62 per cent, compared with September’s 0.34 per cent.

Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. The Central Bank attempt to limit inflation and avoid deflation in order to keep the economy running smoothly.

Food and non-alcoholic drinks’ inflation was up 0.96 per cent month-on-month.

While releasing the Consumer Price Indices (CPI) and rates of inflation for October, 2016, the Statistics office noted that the CPI for Food & Non-Alcoholic Beverages jumped 11.03 per cent since the same period last year.

The Consumer Price Index, or CPI, is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

During the period under review, the CPI for Alcoholic Beverages, Tobacco & Narcotics rose 14.13 per cent while the CPI for Clothing & Footwear jumped 4.17 per cent. On the other hand, the CPI for Housing, Water, Electricity, Gas and other Fuels fell by 0.04 per cent.

The CPI for Furnishings, Household Equipment and Routine Household Maintenance rose 3.23 per cent, the CPI for Health rose by 3.34 per cent, the CPI for Transport edged up by a meagre 0.36 per cent while the Consumer Price Index for Communication went up by 1,81 per cent.

Meanwhile, the CPI for education rose 4.07 per cent while the CPI for Recreation & Culture jumped 4.34 per cent, indicating that the country’s middle class is still on the rise.

The prices were obtained from selected retail outlets in 25 data collection zones which are located in Nairobi and in 13 other urban centers.

 

 

Previous Millennial wedding gowns
Next Athi Water Services Board moves to address scarcity crisis ahead of Sasumua Dam Half Marathon

You might also like

Latest 0 Comments

Campus vibe

Kisii University Tops scouts’ Regional Competition Kisii University scouts have emerged winners in the regional scout championship competition. The two crews (male and female) famously known as Flamingo Kings and

Latest 0 Comments

Sports Headlines January 11 2017

Brave Police eye continental title Kenya Police upset defending champions Eastern Company 2-1 and move to second in Pool A on goal difference as they recorded their second win in

Latest 0 Comments

Democrats up in arms as Trump names son-in-law top advisor

Democrats have called for US President-elect Donald Trump’s naming of his son-in-law as a top advisor to be reviewed over concerns of nepotism and conflict of interest. A group wants

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply