Kenya's Inflation Drops To 6.7% In August As Prices Of Maize Flour, Cooking Oil Reduce

• Data released by the Kenya National Bureau of Statistics (KNBS) on Thursday, August 31, showed the costs of most basic commodities reduced in August compared to July
• The prices of cooking oil (salad) decreased by 1.2%, fortified maize flour (6.1%), maize grains (8.2%), potatoes (3.5%), beans (1.3%) and cabbages (2.6%)
• For the non-food items, only the 13kg cooking gas recorded a reduction in prices by 2.8% after the government slashed levies on Liquefied Petroleum Gas (LPG)

Kenyans can breathe a sigh of relief after the inflation rate dropped to 6.7% in August.

According to data released by the Kenya National Bureau of Statistics (KNBS) on Thursday, August 31, the costs of most basic commodities reduced in August compared to July.

The prices of cooking oil (salad) decreased by 1.2%, fortified maize flour (6.1%), maize grains (8.2%), potatoes (3.5%), beans (1.3%) and cabbages (2.6%) during the period under review.

However, the cost of mangoes shot up by 6.1%, while sugar increased by 3.2%.

"Overall year-on-year inflation for August 2023 is 6.7%," KNBS said in a statement posted on X.

Non-food items

For the non-food items, only the 13kg cooking gas recorded a reduction in prices by 2.8% after the government slashed levies on Liquefied Petroleum Gas (LPG).

On the other hand, the cost of electricity rose by 1.8% and 1.5% for those consuming 50kw and 200kw, respectively.

The monthly rent for a single-room house rose by 0.4% in the real estate sector.

In the last year, matatu and bus fares increased by 40%, following the rise in diesel and petrol costs by 28% and 21%, respectively, per litre. At the same time, the price of kerosene increased by 32.1%.

The cost of a litre of cooking oil declined by 18.5% to KSh 315 per litre between July 2022 and July 2023.

What was Kenya's inflation in July?

KNBS reported a significant drop in the inflation rate from 7.8% reported in June 2023 to 7.3% in July 2023.

Prices of most food products, including potatoes, tomatoes, cowpeas and cabbages, declined by 12.2%, 10.1%, 8.3 and 8.1%, respectively, in July 2023.

A spot check by TUKO.co.ke in open-air markets showed the price of a bucket of potatoes dropped from a high of KSh 700 to an average of KSh 400.

The housing, water, electricity, gas and other fuels index, decreased by 1.2% between June 2023 and July 2023.

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Kenyans ate cheaper ugali in August.

Kenya's Inflation Drops to 6.7% in August as Prices of Maize Flour, Cooking Oil Reduce - Tuko.co.ke

Kenyan Inflation Rate Falls in August as Food-Price Growth Slows - Bloomberg