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Kenya's rate of inflation drops in December

31 December 2013, 18:16

Nairobi - Kenya's overall inflation rate for the month of December dropped slightly to 7.15 percent from 7.36 percent in November despite marginal increases in food prices, the Natioal Bureau of Statistics said on Tuesday.

The bureau said the Consumer Price Index (CPI) computed using the geometric mean approach rose by 0. 50 percent from 143.14 in November to 143.85 in December

"During the month of December 2013, Food and Non Alcoholic drinks' Index increased by 0.55 percentage points. This was observed as a net effect of increase in prices of some food items outweighing notable falls in prices of others," the statement said.

According to statistics bureau, between November and December, housing, water, electricity, gas and other fuels' index, increased by 0.01 percent.

The bureau attributed the slight increase to notable rises in the cost of cooking fuels. It noted however that a significant fall in the cost of electricity balanced the net effect in the next.

"Despite introduction of a Water Resource Management Authority (WARMA) levy of 0.60 shillings per KWh electricity costs reduced significantly due to waiving of inflation levy and reduction of forex adjustment costs," it added.

According to the bureau, Transport Index increased by 1.83 percent over the review period, mainly due to higher matatu (minibus) and bus fares associated with Christmas festivities.

This, the statistics bureau said, was further compounded by marginal rises in petrol and diesel prices.

- Xinhua


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