Home ECONOMY Kenya’s Inflation Hits 5.87% in May

Kenya’s Inflation Hits 5.87% in May

by biasharadigest

Kenya recorded a slight increase in May inflation rate following an increase in food and transport cost. May Inflation increased from 5.76% in April to 5.87% in May 2021.

A monthly report from the Kenya National Bureau of Statistics (KNBS) attributes the modest increase to higher costs of transport, food and non-alcoholic beverages. The cost of food and non-alcoholic beverages rose by 1.26% month on month and 7.36% year on year.

A kilogram of cabbage recorded the highest increase in price, retailing at KSh44.85, 7.3% higher than its April 2021 price. Sukuma wiki (kales), and onions also registered price increments at 6.5% and 5.03%, respectively, retailing at KSh53.98 and KSh112.65, respectively.

Food products, which carry the largest weight in the inflation basket at 32.19%, rose 0.32% from April.

On the other hand, prices of cost of electricity, water and charcoal dropped. A kilogram of charcoal decreased by 2.9% to retail at KSh58.07. Homes consuming 50 kilowatt-hours (kWh) paid KSh837.18 last month, a 2.47% drop from April. Those that used 200 kilowatt-hours (kWh) paid KSh4, 752.32, a 1.75% drop.

The transport cost increased by 0.69% from April due to a 2.87% increase in fuel prices to KSh127.21 per litre.

See Also:

Central Bank’s Stance on Inflation Keenly Watched as MPC Meets

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