The Kenya National Bureau of Statistics (KNBS) has listed cooking oil as one category of commodities whose prices have risen from October to November this year.
In its latest survey report published on Friday, November 29, KNBS also listed several items including sugar, maize flour, tomatoes, maize grains, international flight tickets, house rent, and wheat flour among the commodities whose prices substantially rose in November.
KNBS disclosed that the price of sifted and fortified maize flour rose 5.1 per cent and 4.9 per cent respectively. Additionally, the prices of cooking oil, tomatoes, maize grain, and monthly house rent rose by 3.1 per cent, 2.6 per cent, 1.4 per cent, and 1.1 per cent respectively.
According to KNBS, the rise in the prices of the above commodities contributed to the hike in the inflation rate from 2.8 per cent in November to 2.7 per cent in October.
“Overall annual inflation rate as measured by the Consumer Price Index (CPI) was 2.8 per cent, in November 2024; a slight increase from an inflation rate of 2.7 per cent recorded in October 2024. The month-to-month inflation rate was 0.3 per cent in November 2024,” KNBS revealed in its monthly report.
“The annual inflation was mainly due to an increase in prices of commodities under the Classification of Individual Consumption by Purpose (COICOP) divisions,” the report further read.
Further, the Bureau of Statistics revealed that eight products saw a significant drop in prices. Among the commodities whose prices dropped in November are electricity, fresh milk, carrots, cabbages, onions, potatoes, and cooking gas.
The prices of 200 watts and 50 watts of electricity dropped by 0.3 per cent while the prices of fresh milk, carrots, and cabbage dropped by 2 per cent, 2.4 per cent and 2.6 per cent respectively. Similarly, the prices of onions, potatoes, and cooking gas declined by 2.7 per cent, 2.8 per cent, and 1.1 per cent respectively.
The move comes hardly a month after KNBS announced a substantial drop in the level of inflation from 3.6 per cent to 2.7 per cent following the decline in the prices of several food items.
The latest announcement also comes against the backdrop of the Central Bank of Kenya's (CBK) advisory about the potential rise in the prices of commodities between October and November this year.
CBK attributed the rise in food commodities in October and November to the short rains that are currently being witnessed in the country. According to the regulator, the short rains would immensely hamper food production in the country.
Another reason for the rise in food items was the hike in global oil prices caused by the ongoing war in the Middle East between Israel and Pakistan.
