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June inflation drops to 9-month low

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Data released by the Kenya National Bureau of Statistics (KNBS) shows the cost of living measure, the inflation rate, fell to 4.59 percent in June.

The data shows that food and non-alcoholic beverages’ index dropped by 1.27 percent over the month, while alcoholic beverages, tobacco and narcotics index also dropped by 0.17 percent.

For instance, prices of tomatoes, Irish potatoes, cabbages, oranges and wheat flour decreased by 12.16, 5.05, 4.84 and 4 percent respectively in June relative to the prices in May,” KNBS stated.

“This was mainly attributed to a 21.33 percent decrease in the cost of kerosene,” KNBS added.

This was attributed to the 6.81 percent increase in price of petrol, which outweighed 4.76 percent decrease in the cost of diesel recorded over the same period.

Source: Business Daily

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