Written by 4:08 am Economy

Kenya’s inflation falls to 3.83pc, the lowest in more than a year

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Kenya National Bureau of Statistics (KNBS) has attributed the decrease in the headline rate to a drop-in price of food, soft drinks and electricity/FILE

, NAIROBI, Kenya, Sept 30 – Kenya’s year-on-year inflation fell to 3.83 percent in September to become the lowest it has been in more than a year.

This is within the government’s preferred band of 2.5-7.5 percent for inflation to maintain price stability in the economy

Kenya National Bureau of Statistics (KNBS) has attributed the decrease in the headline rate to a drop-in price of food, soft drinks and electricity.

“For instance, in September 2019 prices of carrots, cabbages and tomatoes decreased by 9.80, 6.32 and 4.14 percent, respectively,” KNBS says.

The year on year food inflation dropped from 7.13 percent in August 2019 to 6.31 percent in September 2019.

On a month-on-month basis, consumer prices fell by 0.11 percent from 201.78 in August to 201.57 in September.

However, during the same period, housing, water, electricity, gas and other fuels’ index, increased by 0.07 percent mainly attributed to increased in house rent and cooking fuels. The transport index increased by 0.48 percent mainly due to increase in pump prices of diesel and petrol.

Last week, the central bank held its benchmark lending rate at 9.0 percent, saying inflation expectations were within the target range.

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