Kenya’s year-on-year inflation rate in September 2024 eased to 3.6% from 4.4% recorded in the previous month, according to the latest data by the Kenya National Bureau of Statistics.
The price surge was primarily attributed to the rise in prices of various commodities under three categories, including Food and Non-Alcoholic Beverages (5.1%), Transport (0.5%), and Housing, Water, Electricity, Gas, and other fuels (2.6%).
The overall consumer price index (CPI) surged to 140.13 in September 2024 from 139.87 in August 2024, translating to monthly inflation of 0.2%.
According to the data by KNBS, the Food and Non-Alcoholic Beverages Index surged by 0.4% between August 2024 and September 2024.
Prices of oranges rose by 5.2%during the same review period. Also, prices of potatoes, fresh fish, and beef surged by 2.3%, 2.1%, and 0.9%, respectively.During the same period, prices of fresh packeted cow milk, white wheat flour, and sugar fell by 0.5%, 2.1%, and 2.8%, respectively.
“The Housing, Water, Electricity, Gas and Other Fuels’ Index decreased by 0.1 %between August 2024 and September 2024, attributable to a decrease in prices of kerosene, 50 kWh of electricity, and 200 kWh of electricity by 2.1%, 0.8%, and 0.7%, respectively,” the data by KNBS reads.
KNBS also reports that the Transport Index rose by only 0.1% during the period, primarily due to the surge in prices of city bus fares.
The inflation rate for September 2024 falls within the country’s inflation target of 5%, with a margin of 2.5% on both sides, as set out by the Central Bank of Kenya. The inflation is measured by the 12-month increase in CPI based on data collected by the Kenya National Bureau of Statistics.
Year-on-year inflation is used by the government in economic policy decision-making.
Related: Kenya’s inflation rate increases to 4.4% in August 2024
