Kenya’s inflation in November 2023 has slightly dropped by 0.1% to 6.8% down from 6.9% reported in October 2023.
The figure is 2.5% below the rate of 9.5% reported during a similar period in 2022.
What increases cost of living?
Data from the Kenya National Bureau of Statistics (KNBS) showed that the rate of inflation was driven by the high fuel and other costs.
The report showed an increase in prices of commodities under Transport (13.6%); Housing, Water, Electricity, Gas and other fuels (8.5%); and Food and Non-alcoholic Beverages (7.6%) between November 2022
and November 2023.
Effects of fuel prices on inflation
Prices of petroleum products, electricity and cooking gas increased by 15.5% during the same month under review.
This is after the Energy and Petroleum Regulatory Authority (EPRA) revised pump prices, retaining petrol at KSh 217.36 per litre.
EPRA utilised the Petroleum Development Levy (PDL) to slash diesel and kerosene prices to retail at KSh 203.47 and KSh 203.6 per litre, respectively.
“The Housing, Water, Electricity, Gas and Other Fuels’ Index increased by 0.2% between October 2023 and November 2023, mainly on account of a 1.1% rise in the prices of both gas and cement,” read the KNBS report in part.
The price of 200 kWh and 50 kWh of electricity decreased by 1.0% and 1.2 per cent, respectively.
Prices of food items
Food and Non-Alcoholic Beverages Index rose by 0.4% between October 2023 and November 2023, which was lower than the increase of 1.3% observed between 2023 September and October 2023.
The report indicated an increase in prices of tomatoes (17.7%), oranges (3.8% and wheat flour (3.3%).
However, prices of potatoes, maize flour-sifted and cabbages dropped by 7.1%, 6.5% and 3.6%, respectively.
A spot check by News 9 Kenya revealed that unga prices reported a slight drop, ranging between KSh 149 and KSh 179 per 2kg packet, for common brands across retail shops.
Soko maize flour brand retailed at around KSh 155, Pembe at KSh 159, Jogo at 165, Ndovu at KSh 157 and Umi at KSh 160, among others.
William Ruto claims unga retails at KSh 130
This followed remarks by President William Ruto claiming that the economy is stable and that the cost of living is lowering.
Ruto said that the cost of a 2kg packet of unga now retails at KSh 130 across supermarkets in the country.
The head of state attributed this to the interventions levelled by his administration in the past one year, including fertiliser subsidy programme.
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