The Year on Year (y/y) inflation for the month of October increased to 4.95 percent, against September which recorded a 3.8 percent increase.
This increase in inflation exceeded projections that had been made by analysts from Cytonn Investments, where they had projected that it would increase between 4.4 – 4.8 percent. Additionally, the month on month inflation grew by 0.3 percent due to specific price increments in commodities.
Food and non-alcoholic beverages recorded a 0.5 percent growth in the month on month price change due to an increase in prices of significant food items including maize grain-loose, maize flour-sifted and tomatoes which increased by 5.8, 4.6 and 4.4 percent, respectively. Overall, this brought the y/y price change of food and non-alcoholic beverages to an 8.7 percent growth.
There was also a 0.1 percent increase in the housing, water, electricity, gas and other fuels index, as a result of an increase in prices of some cooking fuels such as kerosene which increased by 0.4 percent.
While food and housing costs went up, there was a 0.3 percent decline in the transport index on account of the reduction in pump prices of diesel and petrol by 1 percent and 4.2 percent, respectively.