The annual headline inflation rate as measured by the Consumer Price Index (CPI) increased to 5.1 per cent, in May 2024 from 5.0 per cent in April 2024.
This means that the general price level in May 2024 was 5.1 per cent higher than that of May 2023.
The price increase was mainly driven by rise in prices of commodities under Transport (8.1%); Food and Non-Alcoholic Beverages (6.2%); and Housing, Water, Electricity, Gas and other fuels (4.4%) between May 2023 and May 2024.
These three divisions account for over 57 per cent of the weights of the 13 broad categories.
The CPI and inflation is generated from data collected through monthly survey of retail prices that targets a representative basket of household consumption goods and services.
“The data collection is conducted in the second and third weeks of the month from a representative sample of outlets located in 50 data collection zones across the country,” said the Kenya National Bureau of Statistics (KNBS).
The index increased from 138.40 in April 2024 to 139.85 in May 2024 attributing to monthly inflation of 1.0 per cent.
Which commodities had increase in prices in May 2024?
The Food and Non-Alcoholic Beverages Index increased by 2.0 per cent between April 2024 and May 2024, while the prices of spinach, Kale “sukuma wiki”, tomatoes and potatoes(irish) increased by 18.2, 15.0, 14.0 and 6.2 per cent, respectively between April 2024 and May 2024.
During the same period, however, the price of maize flour- sifted, fortified maize flour, maize grain-loose and wheat flour- white decreased by 3.2, 2.3, 1.6 and 1.3 per cent, respectively, respectively.
The Housing, Water, Electricity, Gas and Other Fuels’ Index increased by 1.2 per cent between April 2024 and May 2024 mainly due to rise in prices of of 200 kWh and 50 kWh of electricity by 6.9 per cent and 5.5 per cent, respectively.
However, the price of gas/LPG and kerosene dropped by 0.6 per cent and 1.0 per cent, respectively, during the period.
The Transport Index increased by 0.2 per cent between April 2024 and May 2024.
However, prices of petrol and diesel dropped by 0.5 per cent and 0.7 per cent, respectively during the same period.
