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In its latest economic survey, the Kenya National Bureau of Statistics on Friday announced a significant drop in prices of nine crucial commodities.
KNBS in its report revealed prices of commodities such as kerosene, cooking gas and petrol had dropped in May compared to April.
Other commodities that also dropped in price include sugar, wheat flour, diesel, fortified maize flour, maize grains and sifted flour.
Despite the price drop, KNBS announced a slight increase in the rate of inflation between April and May from 5.0 per cent to 5.1 per cent.
“The overall year-on-year (annual) inflation rate as measured by the Consumer Price Index (CPI) was 5.1 per cent, in May 2024; an increase from an inflation rate of 5.0 per cent recorded in April 2024,” KNBS stated in its report.
The hike in inflation led to an increase in prices of other important commodities such as electricity, cereals and vegetables.
Other commodities that also rose in price include such as beef, white rice and expenses on monthly house rent.
According to the report, the rise in inflation was mainly due to an increase in prices of commodities under the transport Index, and food and alcoholic beverages index.
While making price comparisons on an annual basis, between May 2023 and May 2024, the report revealed a significant increase in the prices of food commodities.
Only four commodities dropped in price within the last 12 months. The commodities include sugar, maize grain, fortified maize flour, wheat flour and sifted maize flour.
However, despite the increase in prices of several commodities over the last one year, there was a marginal drop in the levels of inflation within the same duration.
For the past 12 months, the inflation rate dropped from 8.1 per cent to 5.1Â per cent with the lowest rate being in April this year when the inflation rate hit 5.0 per cent.
