Kenya’s inflation has increased to 6.9 percent in January 2024, presenting a slight surge from December last year.
According to data from the Kenya National Bureau of Statistics (KNBS), this comes following increased prices of fuel, food, and non-alcoholic beverages.
A KNBS monthly report shows a slight increase in inflation by 0.3 percent from 6.6 percent in December 2023 to 6.9 in January 2024.
This has been attributed to the increased cost of transport by 10.6 percent along with water, gas, electricity, housing, and other fuels by 9.7 percent.
Food and non-alcoholic beverage prices going up by 7.9 percent also contributed to the inflation surge.
Prices of cabbages, carrots, oranges, and Irish potatoes increased by 10.0, 7.4, 3.1, and 1.7 percent respectively between December last year and January this year. In the same period, prices dropped for mangoes, tomatoes, and sugar by 3.8, 6.6, and 2.2 percent respectively.
The inflation rate is generated from monthly surveys of retail prices of household consumption goods and services. The surveys are done in the second and third weeks of the month from a sample of outlets located in 50 data collection zones across the country.
How is the cost of living in Kenya?
Kenyans have decried the increased cost of electricity, with token messages showing more than half of the money goes to paying taxes and very little on actual electricity tokens.
The price of refilling a 6kg LPG gas cylinder in August 2023 reduced to around Ksh 850 in Nairobi after the government removed levies on the product.
However, the relief was short-lived and the price started increasing a few weeks later. Today refilling the same cylinder costs consumers around Ksh 1,200 in the capital city.
Sugar prices have remained high with 2kg pack costing around Ksh 500 since last year. However, maize flour prices seem to stabilize with regular brands that used to cost Ksh 200 in 2023 now going at Ksh 150.
It remains to be seen if the government’s intervention in agriculture with subsidized fertilizer, among other measures, will help lower maize flour prices even further.
Fuel prices increased in 2023 which saw fuel prices cross the Ksh 200 mark per litre starting September 15. Prices in Nairobi for petrol were reviewed by EPRA to Ksh 211.64, diesel Ksh 200.99, and kerosene Ksh 202.61.
There was an outcry from Kenyans and opposition leaders who questioned the increased cost despite global fuel prices reducing at the time.
There have been minimal drops in fuel prices since then sometimes dropping by Ksh 2, which does not make a significant difference in reducing the cost of living.
The Energy and Petroleum Regulatory Authority (EPRA) recently revised pump prices for January 15 to February 14, 2024, which saw prices of super petrol, diesel, and kerosene reduce by KSh 5, KSh 5, and KSh 4.82 per litre, respectively.
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