Inflation for the Month of May Increase To 3.95 Percent

By Soko Directory Team / May 31, 2018

Kenya Inflation Economic Growth IMF, debts

The inflation rate for the month of May has increased to 3.95 percent according to the statistics released by Kenya National Bureau of Statistics (KNBS).

During the month of April, the inflation rate stood at 3.73 percent even as the cost of living seemed out of reach for the majority of Kenya.

The increase in the inflation rate for the month of May has been attributed to rising in the cost of food and fuel among other basic things.

During May, the indexes for housing, water, electricity, gas and other fuel increased by 1.79 percent. In April, indexes were at 3.24 percent. The increase was also attributed to increased prices of cooking fuels with charcoal recording the highest increase of 9.66 percent.

Following the ban on logging, charcoal prices skyrocketed through the window with a tin that was going for 50 shillings doubling to 100 shillings making it more expensive than kerosene.

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