Business and Finance

Kenya inflation rises to 4.45pc

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Kenya’s prices of goods rose at a faster pace in February for the second consecutive month on account of higher milk, beef and fuel costs, the statistics bureau said on Thursday.

The Kenya National Bureau of Statistics (KNBS) said inflation in February rose to 4.45 per cent compared to 3.67 per cent in January this year. In December last year, prices of basic goods and services rose at 3.2 per cent, the slowest pace after the inflation rate declined for 13 consecutive months.

“The food and non-alcoholic drinks index increased by 1.29 per cent. The increase in the food index was a consequence of rises and falls in the average prices of various food items,” said KNBS in a statement.

The price of fresh packet milk jumped by 21 per cent between January and February, while the price of fresh unpackaged milk rose by 19.68 per cent, according to the bureau of statistics.

KNBS said that the Housing, Water, Electricity, Gas and Other fuels’ index went up by 0.39 per and that this increase was attributable to higher costs of house rents, kerosene and other cooking fuels which outweighed observed lower costs of Electricity.

The bureau of statistics said that even though fuel cost adjustment charges per KWh of electricity increased slightly, forex adjustment charges on the other hand, recorded decreases.

“As a result, the cost of consuming 50 KWh of electricity for instance, decreased further from Ksh568 in January 2013 to Ksh564 in February,” said KNBS.

 THE EASTAFRICAN

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