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Kenya's overall inflation rate declines to 6.43 percent

02 November 2014, 14:16

Nairobi - Kenya's overall monthly inflation slowed down to 6.43 percent in October from 6.6 percent in the previous month due to falls in food commodities, transport and energy prices, the statistics bureau said.

The Kenya National Bureau of Statistics (KNBS) said the Consumer Price Index (CPI) computed using the geometric mean approach decreased by 0.21 percent from 152.24 in September to 151. 92 in October.

"Between September and October, Food and Non Alcoholic Drinks' Index decreased by 0.45 percent," KNBS said in a statement released in Nairobi.

The bureau said the decline in food inflation resulted from observed falls in the prices of several food commodities which outweighed notable rises in the prices of others.

Read also: Now Cadbury Kenya shuts down over counterfeits

Over the same period, housing, water, electricity, gas and other fuels' index decreased by 0.23 percent, mainly due to notable fall in the cost of cooking fuels such as kerosene, LPG and electricity among others.

Contributing the fall in the cost of electricity was fuel cost adjustment which decreased from 5.71 shillings (0.064 U.S. dollars) per KWh in September to 4.74 shillings (0.053dollars) per KWh in October," it said.

Consumers are set to start enjoying lower electricity costs by December following the launch of the world's largest geothermal plant in mid October.

The 140-megawatt (MW) Olkaria IV geothermal power project is expected to bring down the cost of electricity in the country by 30 percent by the end of this month, and 50 percent by early next year.

- Xinhua

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