inflation
inflation

Kenya’s overall inflation rate dropped slightly to 7.06 percent in September from 8.04 percent in the previous month due to falls in some food items, the statistics bureau said on Friday.

Kenya National Bureau of Statistics (KNBS) said that the Consumer Price Index (CPI) computed using the geometric mean approach decreased by 0.57 percent from 184.72 percent in August to 183.66 in September.

“Between August and September 2017, Food and Alcoholic Drinks’ Index decreased by 1.28 percent,” KNBS Director General Zachary Mwangi said in a statement issued in Nairobi.

“This was due to fall in the cost of some food items which was mainly attributed to a relief from a situation of depressed supply of goods and services as experienced in August 2017,” it said.

As a result, said the statistics bureau, the year-on-year food inflation dropped to 11.5 percent in September.

During the same review period, Housing, Water, Electricity, Gas and Other Fuels’ Index, decreased by 0.16 percent.

“This was mainly due to notable decrease in the cost of electricity which outweighed observed marginal increases in the cost of house rents and cooking fuels,” Mwangi said.

He said that the Transport Index rose marginally by 0.7 percent over the same period, mainly due to the account of increase in pump prices of petrol and diesel.

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

Source: Xinhua/NewsGhana.com.gh

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