Kenya Inflation Rate at 6-Month Low of 4.1% in February
The annual inflation rate in Kenya fell to 4.14 percent in February 2019 from 4.7 percent in the prior month. It is the lowest inflation rate since August, amid a generalized slowdown in prices, in particular for food and transport.
Year-on-year, inflation softened for food & non-alcoholic beverages (1.09 percent vs 1.62 percent in January) mainly due to cheaper loose maize grain (-40.99 percent vs -40.58 percent), sifted maize flour (-30.68 percent vs -29.04 percent) and sugar (-8.51 percent vs -7.69 percent); transport (9.56 percent vs 11.05 percent), amid falling cost of diesel (-1.11 percent vs 7.63 percent) and petrol (-7.03 percent vs -2.03 percent); and housing & utilities (12.35 percent vs 12.68 percent), namely house rent (4.04 percent vs 4.59 percent). Also, prices increased at a slower pace for clothing & footwear (2.43 percent vs 2.80 percent); furnishings (3.03 percent vs 3.58 percent); restaurants & hotels (3.04 percent vs 3.36 percent); miscellaneous goods & services (3.16 percent vs 3.52 percent); communication (4.52 percent vs 4.69 percent); health (4.47 percent vs 4.52 percent); education (1.24 percent vs 1.48 percent) and recreation & culture (0.83 percent vs 0.90 percent).
In contrast, cost advanced faster for alcoholic beverages (7.33 percent vs 6.48 percent).
On a monthly basis, consumer prices inched up 0.82 percent, after rising 0.35 percent in the previous month. Main upward pressure came from cost of food & non-alcoholic beverages (1.70 percent vs 0.78 percent), such as maize grain (1.11 percent vs 0.53 percent) or beans (1.09 percent vs 0.89 percent). Meanwhile, prices slowed for housing & utilities (0.12 percent vs 0.20 percent), namely house rent (0.18 percent vs 0.46 percent) and declined for transport (-0.50 percent vs -1.40 percent), mainly as a result of significant decreases in pump prices of diesel (-7.77 percent vs -7.86 percent) and petrol (-1.91 percent vs -8.67 percent).
2/28/2019 4:43:09 PM