The Kenya National Bureau of Statistics (KNBS) has announced a decline in inflation for September 2024, bringing some relief to consumers. The annual inflation rate dropped from 4.4% to 3.6%, primarily driven by lower prices for essential items like maize flour, sugar, and cooking gas.
Highlights
- Inflation has dropped significantly
- Maize flour is among the items to drop in price
While the overall inflation rate has decreased, prices for certain goods and services continue to rise. Vegetables, potatoes, oranges, beef, fish, onions, charcoal, bus fares, beans, petrol, and kerosene have all seen increases in recent months.
The KNBS attributed the decline in inflation to a decrease in prices for food and non-alcoholic beverages. However, the cost of housing, water, electricity, gas, and transport has risen over the past year.
The Consumer Price Index (CPI) for September 2024 was 3.6%, down from 6.8% in September 2023. The CPI measures the average change in prices paid by consumers for a basket of goods and services.
Despite the easing inflation, many Kenyans continue to struggle with rising costs of living. The government will need to closely monitor price trends and implement policies to address the challenges faced by consumers.
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