January Inflation Falls To 14-Month Low

 By Kepha Muiruri For Citizen Digital

The cost of living eased slightly in January with the rate of inflation in the month easing to 5.39 per cent from 5.73 per cent in December.

The ease in basic commodity costs is largely attributable to lower energy and transport costs with the former propped by the reduction of electricity tariffs earlier this month.

For the latter, the non-change in the cost of fuel products served to further trim bus and matatu fares.

Nevertheless, food prices have continued to defy the downward trend with the average cost of basic food items rising by 8.9 per cent year over year and by 1.1 per cent month on month between December and January.

Food commodities registering increases in costs in the period have included sifted maize flour, kale/sukumawiki, spinach and irish potatoes.

The jump for the four commodities offset decreases in the price of mangoes, tomatoes and carrots.

At 5.39 per cent, inflation sits at its lowest rate in 14 months since November 2020.

The lower rate of inflation means that Kenyans are experiencing some slight relief while shopping for basic commodities.

Even so, inflation remains elevated above the government’s mid-point target of five per cent.

The rate of inflation for instance averaged 5.63 per cent and 5.73 per cent in 2020 and 2021 respectively.

Inflation has however held within the government’s target band of 2.5 to 7.5 per cent.