Kenya Annual Inflation Rate Slows to 5.53% in October

The annual inflation rate in Kenya fell to 5.53 percent in October of 2018 from 5.7 percent in September. Prices eased mainly due to slowdown in cost housing and utilities and transport, amid a petroleum products tax cut to 8 percent from an initial 16 percent at the beginning of September. On a monthly basis, consumer prices dropped 0.79 percent after rising 1.02 percent in the previous month.

Year-on-year, prices slowed for housing & utilities (17.12 percent compared to 17.44 percent in September); transport (15.30 percent compared to 17.29 percent); ); furnishings and household equipment (4.68 percent compared to 4.86 percent); restaurants & hotels (4.32 percent compared to 5.04 percent) and education (4.80 percent compared to 5.04 percent). 

Meanwhile, cost rose further for clothing & footwear (4.73 percent compared to 4.58 percent); miscellanous goods & services (4.44 percent compared to 4.30 percent); communication (4.30 percent compared to 0.61 percent); health (5.92 percent compared to 5.90 percent);  recreation & culture (1.67 percent compared to 1.61 percent) and alcoholic beverages & tobacco (7.05 percent compared to 6.48 percent). Also, inflation was steady for food and non-alcoholic beverages (at 0.5 percent, the same as in September).

On a monthly basis, consumer prices declined by 0.79 percent, after increasing 1.02 percent in the prior month. Cost of food & non-alcoholic beverages dropped (-1.76 percent compared to 0.37 percent) mostly due to lower prices of maize and maize products. Additionally, prices of transport decreased (-0.86 percent compared to 7.99 percent), due to cost of petrol (-0.9 percent compared to 2.6 percent) and diesel (1.5 percent compared to 5.1 percent). Also, prices of housing & utilities eased (0.20 percent compared to 0.47 percent).

 Kenya Annual Inflation Rate Slows to 5.53% in October

Kenya National Bureau of Statistics | Stefanie Moya |
10/31/2018 2:35:47 PM