Kenya’s inflation drops to 7.36pc on lower fuel prices
Kenya’s inflation rate dropped marginally to 7.36 per cent this month compared to 7.76 per cent in October, driven by lower fuel prices.
Statistics from the Kenya National Bureau of Statistics (KNBS) show that a drop in the cost of kerosene, petrol and diesel was the major cause of the drop in the overall cost of living.
The products have wide usage from powering homes, motor vehicles, and industries, with a drop in their prices having a major impact on inflation levels.
A litre of kerosene was priced at an average of Sh83.68 per litre this month compared to Sh85.87 in October, according to KNBS figures. The price of petrol was down to an average of Sh110.4 per litre from Sh113 in the same period.
A litre of diesel sold at an average of Sh104.6 per litre from Sh105.3 in a move that saw the price of the three items drop by between 0.7 and 2.5 per cent in the period.
Electricity was ranked as the item whose price rose by the largest margin this month, with the cost of 50 Kwh rising 2.52 per cent to Sh609 compared to Sh594.7 in October.-nation.co.ke