Bureau Of Statistics Lists 9 Essential Commodities Whose Prices Shall Drop
In its most recent economic survey, the Kenya National Bureau of Statistics announced a significant drop in prices for nine critical commodities on Friday.
According to the KNBS report, prices for commodities such as kerosene, cooking gas, and petrol fell in May compared to April.
Sugar, wheat flour, diesel, fortified maize flour, maize grains, and sifted flour are among the other commodities that have experienced price drops.
Despite the price drop, the KNBS announced a slight increase in the rate of inflation between April and May, from 5.0 to 5.1%.
Inflationary pressures caused prices of other important commodities to rise, including electricity, cereals, and vegetables.
Other commodities that have seen price increases include beef, white rice, and monthly house rent.
According to the report, the increase in inflation was primarily caused by increases in commodity prices under the Transport Index and the Food and Alcoholic Beverage Index.
When comparing prices on an annual basis between May 2023 and May 2024, the report found a significant increase in food commodity prices.
Only four commodities’ prices have dropped in the last 12 months. Sugar, maize grain, fortified maize flour, wheat flour, and sifted maize flour are among the commodities offered.
However, despite the increase in prices of several commodities over the last year, there has been a marginal drop in the levels of inflation within the same duration.
Over the last year, the inflation rate has dropped from 8.1% to 5.1%, with the lowest rate occurring in April of this year, when it reached 5.0 percent.
Bureau Of Statistics Lists 9 Essential Commodities Whose Prices Shall Drop
