Inflation Rate For May Spikes To 5.87 Percent

The inflation rate for the month of May hit 5.87 percent from 5.76 percent in April according to the stats released by the Kenya National Bureau of Statistics (KNBS). This comes as the cost of living among Kenyans continues to bite with each passing day.

KNBS has attributed the increase in the inflation rate to the increase in the price of petrol during the month. The price of diesel and kerosene remained constant. Kenyans feel the increasing rise in fuel prices will continue eating into them.

The transport index, for instance, marked a 0.69 percent increase after a 2.87 percent rise in petrol pump prices on May 14. At the same time, the food index increased by 0.32 percent as some food items marked an increase in price.

The month-to-month Food and Non-Alcoholic Drinks Index increased by 0.32 percent between April 2021 and May 2021.

This food inflation was mainly attributed to an increase in prices of some food items, which outweighed the decrease in prices of other foodstuffs.

For instance prices of onion leeks and bulbs, kale (sukuma wiki), and cabbages increased by 5.03, 3.41, and 3.19 percent, respectively.

On the other hand, prices of oranges and Irish potatoes decreased by 3.99 percent and 2.05 percent, respectively. The year-on-year food inflation rose by 7.02 percent between May 2020 and May 2021.

The Housing, Water, Electricity, Gas, and Other Fuels’ Index, decreased by 0.15 percent between April 2021 and May 2021. This was mainly attributed to the decrease in prices of charcoal and electricity.

The Transport Index increased by 0.69 percent mainly due to an increase in pump prices of petrol by 2.87 percent between April 2021 and May 2021.