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Kenya: Annual Inflation hits eight-month high.

Kenya's annual inflation shot up to an eight-month high of 7.67% in July, compared to 7.39% in June, the statistics body said Thursday.

The Kenya National Bureau of Statistics (KNBS) said the rise in the annual inflation, which is above the Central Bank of Kenya (CBK) upper limit of 7.5 by 17 basis points, was mostly driven by the cost of housing, water, electricity and cooking gas.

The cost of food and the non-alcoholic drinks, which accounts for more than a third of the household budget, rose by 9.06% in July, while the cost of energy rose by 7.7%.

KNBS made its calculation based on raw figures it gathered from 13 towns and 25 data collection centres to arrive at the price of basic commodities.

Electricity costs, which account for 18.3% of the household budget, compared to the 36% for the food basket, rose mainly because the Kenya Power Company increased the cost of power during the month.

KNBS said the transport costs rose by 11.8% as a result of the increased petroleum prices, which led commuter buses and mini-buses to hike their fares.

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Publication:African Manager
Geographic Code:6KENY
Date:Jul 31, 2014
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