February Inflation Hits 17-Month Low, But Food Prices Soar Again

 

By Kepha Muiruri For Citizen Digital

The cost of living as measured by inflation has fallen to a 17-month low 5.07 per cent this month compared to 5.39 per cent in January.

This is the lowest cost of living since October 2020 when inflation stood at 4.84 per cent with overall consumer prices decelerating in recent months after inflation peaked at 6.91 per cent in September according to data from the Kenya National Bureau of Statistics (KNBS).

The fall in inflation is largely attributable to unchanged fuel prices which stalled a rise in energy and transport cost.

The hold in maximum prices at the pump has for instance left petrol and diesel prices at Ksh.130.54 and Ksh.111.51 on average countrywide in the month of February.

Meanwhile the cost of electricity measured by 50 units (kilowatts) was also unchanged at Ksh.796.83 during the month while house rents for a single room were only up by a mere 0.24 per cent.

Costlier food

Nevertheless, food prices have remained sticky defying the general slowdown in overall consumer costs.

The food and non-alcoholic beverages index was for instance up by 0.83 per cent month over month in February pointing to the higher food costs.

A two kilogram pack of sifted maize flour for instance now costs Ksh.129.25 from Ksh.126.31 while a 400 gram loaf of white bread costs Ksh.55.85 on average from Ksh.55.19.

Meanwhile, 500 grams of cooking fat costs Ksh.149.44 from Ksh.142.05 while the cost of one litre salad cooking oil has soared by 2.1 per cent to Ksh.305.70.

A kilo of Irish potatoes costs Ksh.78.17 on average from Ksh.76.16 while a kilo of carrots cost more by 2.1 per cent at ksh.83.08.

Other food prices to register a jump in the month include oranges, pilipili hoho and onions.