NAIROBI, Kenya- Kenya’s month-to-month inflation ticked slightly higher in December 2024, rising to 3pc from November’s 2.8pc, according to the latest report from the Kenya National Bureau of Statistics (KNBS).
The modest increase reflects shifts in food, beverage, and transport costs, coupled with changes in housing-related expenses.
Food Prices Drive Inflation Uptick
The KNBS report attributes the inflation rise largely to price increases in the Food and Non-Alcoholic Beverages category, which surged by 4.8pc year-on-year. Between November and December alone, the index climbed by 0.7pc. Notably, prices for staple goods like maize flour saw significant hikes:
- Sifted maize flour: +7.0pc
- Fortified maize flour: +5.8pc
- Loose maize flour: +1.8pc
On the brighter side, some commodities became more affordable. Prices for mangoes dropped by 6.2pc, Irish potatoes by 5.0pc, and cabbages by 2.8pc.
Housing, Utilities, and Energy Trends
While housing and utility costs declined by 0.2pc year-on-year, the overall Housing, Water, Electricity, Gas, and Other Fuels Index ticked up by 0.2pc from November to December 2024.
The slight rise stemmed from higher electricity costs, with the price of 50 kWh and 200 kWh of electricity climbing by 0.6pc and 0.5pc, respectively.
In contrast, kerosene prices fell by 2.0pc, providing some relief for households relying on the fuel for cooking and lighting.
Transportation Costs Edge Higher
Transport costs showed a marginal increase of 0.2pc between December 2023 and December 2024, reflecting ongoing pressure in the sector.
While not a dramatic shift, these changes hint at underlying challenges in Kenya’s economy, particularly in managing costs that directly affect consumers’ wallets.
What This Means for Kenyans
The 3pc inflation rate—measured by the Consumer Price Index (CPI)—indicates that prices in December 2024 were 3pc higher than in December 2023. While the figure remains modest by historical standards, it still reflects the economic challenges many Kenyans face.
From fluctuating food prices to subtle shifts in utility and transport costs, the economic landscape offers a mix of challenges and opportunities.
