Food, energy prices push inflation to 3.0 pc in December

Women short variety of fruits at the Eldoret Air supermarket. [File, Standard]

The country’s inflation rate increased to 3.0 per cent in December, up from 2.8 per cent in November, a report by the Kenya National Bureau of Statistics (KNBS) shows.

The report, released on Tuesday, December 31, attributes the rise to an increase in prices of essential commodities including food and beverages.

“The year-on-year headline inflation as measured by the Consumer Price Index (CPI) was 3.0 per cent in December 2024,” the report noted.

Food and non-alcoholic beverages, which comprise the largest CPI basket share, rose by 0.7 per cent last month. 

The prices of sifted maize flour, sugar and tomatoes went up by 7.0, 0.9 and 1.8 per cent respectively. 

However, mangoes, potatoes, cabbage and onions saw price reductions of 6.2, 5.0, 2.8 and 1.1 per cent respectively.

Electricity, water and gas prices also rose, with 50 kWh of electricity increasing by 0.6 per cent.

Despite the general rise, fuel prices decreased, with petrol retailing at Sh176.96 per litre, diesel at Sh165.82 and kerosene at Sh149.18.

The report also highlights a 4.8 per cent year-on-year rise in food and non-alcoholic beverages prices. 

Transport costs increased by 0.1 per cent, while electricity and water costs declined by 0.2 per cent over the same period.

Inflation had been on a downward trend from February, reaching a low of 2.7 per cent in October before climbing again.