Inflation Rate for May Eases to 5.49 Percent
Contrary to what many Kenyans expected, the inflation rate for the month of May has eased to 5.49 percent from the 6.58 percent recorded during the month of April.
According to stats released by the Kenya National Bureau of Statistics, food and non-alcoholic drinks index decreased by 0.37 in May “due to favorable weather conditions which led to the lower prices for some commodities.”
Food is great determinant in the calculation of the inflation rate and the delay in the onset of long rains had raised concerns of skyrocketing food prices across the country.
KNBS says that the price of spinach fell by 10.69 percent, that of sukuma wiki by 9.35 percent and that of tomatoes by 6.78 percent through the prices do not reflect the reality on the ground in most parts of the country.
The prices of other foodstuffs such as maize flour remained relatively higher across the country. A packet of 2-kilogram of maize flour is retailing at 115 in most parts of the country.
The index of housing, water, fuel, electricity, gas, and other fuels increased by 0.61 percent due to higher costs of rent and cooking fuels.
The transport index rose by 0.32 percent as a result of increased fuel prices of petrol and diesel.
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