Rate of inflation slows to 5.53 pc

The rate of inflation has slowed for the sixth consecutive month to 5.5 percent driven by lower prices of energy as well as some foodstuffs.

Data from the Kenya National Bureau of Statistics indicates that despite a significant reduction in both diesel and petrol prices by 18.5 percent, PSV operators failed to pass on the benefit to commuters but instead increased fares this month by an average of 8.6 percent.

Last month, the rate of inflation was 6.02 percent, but this has reduced to 5.53 percent mainly due to lower prices of energy and some foodstuffs.

A survey by the Kenya National Bureau of Statistics found that the prices of maize flour, cabbages, Sukuma Wiki, onions and irish potatoes reduced by between 11 and 37 percent.

Their reductions were however offset by increases in the price of meat and tomatoes which saw the food and non-alcoholic drinks index increase by 0.96 percent during the month.

KNBS further notes that large consumers of electricity are yet to benefit from cheaper geothermal power that has been injected to the national grid.

The bureau says those who consumer more than 200 kilowatts hour saw their electricity bills increase by 4.5 percent.

But those consuming 50 kilowatts hour had their monthly bills reduce by 4.6 percent.