High cost of living bites even as inflation holds steady at 9.2pc

Kenyan consumers continued to feel the pinch of high cost of living as overall food prices increased by 13.6 per cent last month compared to March 2022, even as inflation held steady at 9.2 per cent.

Kenya National Bureau of Statistics data shows that most of the basic commodities that form the Consumer Price Index (CPI) – a metric which measures inflation by calculating the price change for a basket of goods – went up in March as compared to February last month.

 KNBS revealed that commodities whose prices increased includes unpacked fresh cow milk, flour, fortified and loose grain maize, Irish potatoes, carrots, meat with bones, beans sugar, and gas. Additionally, consumers are paying a premium for housing and utilities, including water, electricity and for transport, exposing the President’s agenda to improve the livelihood of Wanjiku, who is also having to contend with increased taxation.

This comes amid on-going protest on high cost of living led by Azimio la Kenya leader Raila Odinga who has been picketing to pressure the government reduce prices of basic commodities. Going by latest data from the Kenya National Bureau of Statistics (KNBS), Kenyan’s might need to fasten their seatbelts for the long haul.

 However, Presdient William Ruto yesterday called upon Raila to end the picketing as they try to sort out the issues raised. In the period under review, cabbages, carrots and Irish potatoes increased by 8.9, 8.5 and 8 per cent respectively.

An average price of a kilogram of cabbage increased to Sh65.17 from 59.86, that of potatoes to Sh103.11 from Sh95.07 while Irish potatoes fetched Sh99.01 a kilogram, up from Sh91.63 in February. According to KNBS, a litre of fresh unpacked cow milk retailed at Sh73.47 up from Sh72.71, beef went up to Sh535.68 from Sh533.16 and a 2kg packet of fortified maize retailed at an average price of Sh173.62 from Sh170.76, even as a kg of loose grained maize rose to Sh77.63 from Sh76.07.

A kg of beans also increased to Sh173.62 from Sh170.76, while that of Sugar rose from Sh153.62 to Sh156.18. Lowering cost of food A notable decrease was cooking oil (salad), whose price reduced to Sh321.24 from Sh323.38.

In February, the Government mooted plans to import large quantities of rice, cooking oil, sugar, wheat and beans duty free through the Kenya National Trading Corporation to tame the rising cost of essential commodities in Kenya.

 Meanwhile, the average monthly rent for a bed sitter rose 0.4 per cent to Sh3,935.39 in March from Sh3,920.64, while a 13 kg cylinder of liquefied petroleum gas went up by 1.2 per cent to from Sh3,101.94 per kg to S3,137.70 per kg.

Those consuming 50 kilowatts of electricity per month paid Sh1,099.73, up from Sh985.01, while the price of 200 kilowatts increased by 9 per cent to Sh5,584.72 from Sh5,125.84.

The transportation index also rose by 0.3 per cent following a 1.1 per cent rise in the average cost of a litre of fuel from Sh175.05 in February to Sh180.05 in March. Latest inflation came above the market forecast of 9.1 per cent and the Central Bank of Kenya’s preferred range of between 2.5 per cent and 7.5 per cent. The yearly inflation rate remained unchanged at 9.2 per cent.