Kenya’s annual inflation rises to 3% in Dec ’24

Kenya’s annual inflation rate climbed to 3.0 per cent in December 2024, driven by a 4.8 per cent increase in food and non-alcoholic beverage prices and a 0.2 per cent rise in transport costs. Prices in the housing, water, electricity, gas, and other fuels category fell by 0.2 per cent during the year.

Month-on-month (MoM) inflation grew by 0.6 per cent, with the Consumer Price Index (CPI) increasing from 140.81 in November to 141.66 in December. Key drivers included a sharp rise in maize flour prices, up 7.0 per cent (sifted), 5.8 per cent (fortified), and 1.8 per cent (loose). Prices of mangoes, potatoes, and cabbages declined by 6.2, 5.0, and 2.8 per cent, respectively.

Housing and utilities costs edged up 0.2 per cent, reflecting electricity price hikes of 0.6 per cent (50 kWh) and 0.5 per cent (200 kWh), although kerosene prices fell by 2.0 per cent. Transport costs rose 1.8 per cent due to holiday fare increases of up to 50 per cent on some routes, despite diesel and petrol prices dropping by 1.8 and 2.4 per cent, respectively.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser