November inflation eases slightly to 9.5pc
Inflation rate dropped marginally to 9.5 per cent in November after nine consecutive months of an uptick since March 2022 when it increased to 5.6 per cent. The 0.1 per cent decline in the consumer prices index (CPI) from the 9.6 rate in October is attributable to a drop in the energy prices and food items such as cooking oil which offered a meager reprieve to household budgets.
According to Kenya National Bureau of Statistics (KNBS), housing, water, electricity, gas and other fuels’ Index, decreased by 0.4 per cent between October 2022 and November 2022.
“This was mainly due to drop in prices of 50 kilowatts electricity units, 200 kilowatts electricity units, gas/LPG and kerosene by 4.7, 3.6, 2.6 and 0.7 per cent, respectively,” it said in November inflation report.
Food, energy costs, and transport account for about 57 per cent of the shopping basket for Kenyan households, indicating that it has the biggest impact in fluctuating prices and families’ buying power whenever inflation surge. Families paid more for cabbages, Sukuma Wiki (collard greens), and beans in November compared to October 2022 though prices of cooking oil, tomatoes, and fortified maize flour eased slightly.