The overall year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 6.7 per cent, in August 2023.
Data from the Kenya National Bureau of Standards (KNBS) indicate that During the reference month, all sectors continued to record a general increase in prices.
Prices of commodities under Transport; Food and Non-alcoholic Beverages; and Housing, Water, Electricity, Gas and other fuels, increased by 13.1, 7.5 and 7.5 per cent, respectively, between August 2022 and August 2023. These three divisions account for over 57 per cent of the weights of the 13 broad categories.
Further, the CPI decreased by 0.1 per cent from an index of 134.15 in July 2023 to 134.02 in August 2023.
Although, relative to last year, Food and Non-Alcoholic Beverages Index increased by 7.5 per cent, on a month-to-month basis, it decreased by 0.5 per cent between July 2023 and August 2023.
Prices of most food products dropped during the period. In particular, the prices of maize grain-loose, maize flour-loose, fortified maize flour, potatoes and tomatoes decreased by 8.2, 7.3, 6.1 and 3.5 per cent, respectively, between July 2023 and August 2023.
Electricity, water, LPG prices
However, during the same period, the price of mangoes increased by 6.1 per cent, respectively.
The Alcoholic Beverages, Tobacco and Narcotics index rose by 0.7 per cent between July 2023 and August 2023. This was mainly on account of a 0.7 per cent increase in prices of spirits during the period.
The Housing, Water, Electricity, Gas and Other Fuels Index remained relatively the same between July 2023 and August 2023.
This was mainly due to an increase in the prices of electricity of 200 Kwh and 50 Kwh by 1.5 per cent and 1.8 per cent, respectively.
In addition, the price of 13Kg gas/LPG, decreased by 2.8 per cent between July 2023 and August 2023.
Whereas the prices of petrol and diesel remained unchanged between July 2023 and August 2023, the Transport Index went up by 0.3 per cent during the period, mainly due to an increase in prices of country bus fares for some routes.
