Kenya’s Inflation Rate Rises to 5.1 Pc in May

Kenya’s inflation rate rose to 5.1 percent in May, up from 5.0 percent recorded in April 2024, according to data from the Kenya National Bureau of Statistics (KNBS).

The increase is attributed to a spike in food, transport, and energy costs.

The annual headline inflation rate, as measured by the Consumer Price Index (CPI), increased to 5.1 percent in May 2024 from 5.0 percent in April 2024.

This rise was mainly driven by increases in prices of commodities under Transport, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas, and other fuels between May 2023 and May 2024.

The general price level in May 2024 was 5.1 percent higher than that of May 2023. The index increased from 138.40 in April 2024 to 139.85 in May 2024, attributing to a monthly inflation rate of 1.0 percent.

Food, non-food items and fuel prices index increased by 6.2 per cent, 3.4 per cent and 7.8 per cent respectively during the review period.

Basic food items like onions, tomatoes and sukuma wiki prices hiked by 67.7 per cent, 29.7 per cent and 27.7 per cent respectively while sifted maize flour prices increased by 28.1 per cent from May 2023 to May 2024.

A 2kg packet of sifted maize flour cost Ksh137.70 in May from Ksh142.19 in April 2024 while 2kg of fortified maize flour, 1kg of loose maize grain and 2kg of white wheat flour retailed at Ksh155.42, Ksh61.94 and Ksh183.69 respectively in May.

The cost of 1kg of sugar dropped to Ksh172.72 in May from Ksh173.70 a month earlier while the price of 1kg of Irish potatoes rose to Ksh118.74 from Ksh111.82 in April.

Read: Kenya’s February Inflation Eases To 6.3Pc