According to the latest reports from the Kenya National Bureau of Statistics (KNBS), the cost of living has decreased marginally to 9.5% in November from 9.6% in October. Consumer prices declined for the first time in nine months since February, when inflation fell to 5.1% from 5.4% in January.
The predicted inflation peak has been reinforced by a 0.4% decrease in food inflation, with prices of goods classified as food and non-alcoholic drinks growing by 15.4% in the period, down from 15.8% in October.
Housing and energy expenses have been reported to have increased at a lesser rate of 6.1% compared to 7.1% in October. Furthermore, the Housing, Water, Electricity, Gas, and Other Fuels index fell by 0.4%, offsetting a 0.5% gain in October, which was supported by lower electricity, liquefied petroleum gas, and kerosene costs.
Transport expenses have also fallen by a single percentage point owing to a minor decrease in fuel prices in the middle of November, when fuel prices fell by Ksh.1 across the board. Despite the numbers from Kenya’s National Bureau of Statistics indicating a tipping point, inflation remained significantly over the government’s goal range of 2.5 to 7.5%.
