Inflation in February has dropped to 4.14 percent compared to 4.7 percent in January, figures from the Kenya National Bureau of Statistics (KNBS) indicate
KNBS says the cost of several foodstuffs in February 2019 was much lower compared to the same period of the previous year.For instance, maize grain recorded a drop of 41.0 per cent fromSh.60.37 per kilogramme in February 2018 to Sh35.63 in February 2019.Similarly, the prices of sifted maize flour, spinach and tomatoes declined by 30.68, 20.66 and 16.63 per cent, respectively.
“These lower prices contributed to a relatively low overall inflation in February 2019,” notes KNBS.According to Macdonald Obudho, housing, water, electricity and other fuel index, increased by 0.12 percent in February compared to January.In Mid-January, the Energy Regulatory Commission (ERC) lowered prices of fuel products significantly reducing cost of transport across the country.
Consumers of diesel, a major component in the manufacturing and transport value chains, were the biggest winners, with the fuel falling by Sh10 a litre. It now retails at Sh102.24 a litre upto March 14 when the commission is expected to review the prices.
Super petrol also registered a significant drop of Sh9 a litre and retail at Sh104.21, a 14-month low. Consumers of kerosene, which is largely used by poor households for cooking and lighting, enjoyed little reprieve, with the fuel falling by a paltry Sh3.52 to retail at Sh101.70 a litre in Nairobi.