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Kenya inflation

Kenya’s Inflation Rate Has Risen To 8.50% In August

 

  • Kenya’s inflation has risen to 8.50% in August, and this is the highest level since September 2021.
  • August’s high inflation marked the sixth consecutive monthly increase since the month of March.
  • There have been increase in food and non-alcoholic commodities which drove the acceleration.

In reference to the latest consumer price indices and inflation rates report by the Kenya National Bureau of Statistics, it shows that inflation in the East African country has escalated to 8.50% in August from 8.30% in July.

The report further explained that the risen of the inflation was due to an increase in the prices of food and non-alcoholic beverages, transportation, housing and fuel.

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Below is a part of the report:

“As presented in Tables 1 and 2, the rise in inflation was mainly due to increase in prices of commodities under food and non-alcoholic beverages (15.3 per cent); transport (7.6 per cent) and housing, water, electricity, gas and other fuels (5.6 per cent) between August 2021 and August 2022. These three divisions account for over 57 per cent of the weights of the 13 broad categories.”

Specifically, Kenya’s food inflation during the month under review maintained at 15.3%. The price of maize flour, used for preparing a staple food in the country known as Ugali, rose by 4.7%. In the same vein, the prices of sugar and mango rose by 4.6% and 4.1%, respectively.

The risen inflation in August marked the sixth consecutive monthly increase since the month of March this year when the inflation rate in Kenya was at 5.60%. It also represents the highest recorded figure since September 2021 when the inflation rate was 6.90%.

In comparison to other neighbouring countries like Zimbabwe, Somalia, Ethiopia and Ghana, Kenya’s inflation rate is still quite maintained.

Kenya’s Consumer Price Index report measures expenditure in the urban and rural areas. Below are how each of the 13 categories in the CPI report performed last month.

  • Food and Non-Alcoholic Beverages: 15.3%
  • Alcoholic Beverages, Tobacco and Narcotics: 4.6%
  • Clothing and Footwear: 2.4%
  • Housing, Water, Electricity, Gas and Other Fuels: 5.6%
  • Furnishings, Household Equipment and Routine Household Maintenance: 10.3%
  • Health: 1.5%
  • Transport: 7.6%
  • Information and Communication: 0.9%
  • Recreation, Sport and Culture: 3.0%
  • Education Services: 0.9%
  • Restaurants and Accommodation Services: 4.6%
  • Insurance and Financial Services: 0.5%
  • Personal Care, Social Protection and Miscellaneous Goods and Services: 4.8%
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