The overall inflation for the month of February went down 0.82 percent from January to settle at 4.14 percent on the back of falling fuel prices according to the latest statistics released by the Kenya National Bureau of Statistics (KNBS).
In January, inflation stood at 4.7 percent with the drop being attributed to the drop-in transport costs as a result of low fuel prices.
Mid last month, the Energy Regulatory Commission (ERC) reduced the price of petrol, diesel, and kerosene by 4.12 shillings, 6.28 shillings, and 5.20 shillings per liter respectively.
According to KNBS, reduced fuel prices led to a reduction in the cost of living has gone down for the first two months of the year, pushing inflation figures to an eight-month low.
Prior to the drop in fuel prices, data released by KNBS shows that inflation rose by 66 basis points to 4.7 percent between August and January.
KNBS attributed the drop to reduced fuel prices that led to a cut in transport costs resulting in low food prices.
Prices of commodities such as sifted maize flour, wheat flour, sugar, kerosene, petrol, and diesel all eased in February relieving pressure off food and transport indices.
On the other hand, a significant decrease in pump prices since December saw the index on transport drop by 0.50 percent.
“The cost of several foodstuffs in February 2019 was much lower compared to the same period of the previous year. These lower prices contributed to a relatively low overall inflation in February 2019,” said KNBS.
This is the third time inflation is dropping since December when it dropped by a whole figure of 5.7 to 4.7 percent in January.