Kenya's overall inflation rate rises to 5-year high

Source: Xinhua| 2017-06-01 03:39:25|Editor: huaxia
Video PlayerClose

NAIROBI, May 31 (Xinhua) -- Kenya's overall monthly inflation increased to a five-year high to 11.7 percent in May from 11.48 percent in April driven by increases in food items and fuel prices due to prevailing drought conditions, the statistics bureau said on Wednesday.

The Kenya National Bureau of Statistics (KNBS) said the Consumer Price Index (CPI) computed using the geometric mean approach increased by 0.75 percent from 186.24 in April to 187.64 in May.

The bureau said between March and April, Food and Non-Alcoholic Drinks' Index increased by 1.26 percent compared to a rise of 3.55 percent witnessed between March and April

"However, the food index increased due to rise in prices of sugar, milk, maize grain and other food items," the bureau said in a statement released in Nairobi. The bureau said the year-on-year food inflation rose by 21.52 per cent in May.

The bureau said there was significant decline in the prices of kales, cabbages, potatoes and spinach mainly due to ongoing rains. The average price of a 2 kilogram packet of maize flour declined from 1.36 U.S. dollars in April to 1.30 dollars in May due to government's interventions.

"The Housing, Water, Electricity, Gas and Other Fuels" index rose by 0.06 percent partly due to increases in cost of kerosene, cooking gas and charcoal.

The decrease in the cost of electricity was due to lower charges of foreign exchange adjustment in May.

"Over the same review period, though the prices of diesel decreased, the Transport Index increased by 0.10 percent mainly on account of increase in the pump prices of petrol," the bureau said.

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

KEY WORDS:
YOU MAY LIKE
EXPLORE XINHUANET
010020070750000000000000011100001363294461