Friday, November 29, 2013

Rate of inflation drops in November

Shoppers at a supermarket in Nairobi. The overall rate of inflation dropped in November, according to the Kenya National Bureau of Statistics. PHOTO | FILE

Shoppers at a supermarket in Nairobi. The overall rate of inflation dropped in November, according to the Kenya National Bureau of Statistics. PHOTO | FILE  XINHUA
By Nation Reporter
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The overall rate of inflation dropped from 7.76 percent in October to 7.36 percent in November, according to the Kenya National Bureau of Statistics.

A press release sent to newsrooms on Friday showed that during the month of November, the Transport Consumer Price Index dropped by 0.42 percent mainly due to reduced prices of petrol and diesel.

The price of kerosene decreased by 2.55 percent over the review period, although the Housing, Water, Electricity, Gas and Other Fuels' index increased by 0.52 percent. This was attributed to notable rises in the cost of electricity and cooking gas. Despite a decrease in forex adjustment charges, fuel cost adjustment charges increased which led to slightly higher cost of electricity in November compared to October.

The average cost of 50 kilowatt hours of electricity increased from Sh594.7 in October to Sh609.7 in November, a 2.52 percent rise.

The average price of 500ml of milk went down from Sh54.44 in October to Sh53.61 in November, with the price of bread going up from Sh48.89 in October to Sh49.43 in November.

The Consumer Price Indices increased by 0.27 percent from 142.75 in October to 143.14 in November.
These numbers were generated using data collected during the second and third weeks of the month under review.

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