Kenya’s inflation rate rose to 2.8 per cent year-on-year in November 2024, up from 2.7 per cent recorded in October, a slight increase that has been attributed to an increase in prices of key commodities.

The Kenya National Bureau of Statistics (KNBS) Consumer Price Index (CPI) report attributed rise in prices of commodities under food and non-alcoholic beverages as the main drivers to the edged-up inflation.

“The price increase was mainly driven by the rise in prices of commodities under Food and Non-Alcoholic Beverages (4.5) per cent and Housing, Water, Electricity, Gas and other fuels (0.1) per cent between November 2023 and November 2024,” the report read in sections.

The month-to-month inflation rate was 0.3 per cent in November 2024. However, the commodity prices in the transport sector are reported to have declined by 1.1 per cent between November last year and November this year.

Basket of goods

The report reflects the cost of purchasing a fixed basket of goods and services, and indexes the current year’s prices relative to a base period value. On a monthly basis, inflation was 0.3 per cent compared with 0.2 per cent in October, KNBS said in a statement.

Kenya targets an inflation rate of between 2.5 per cent and 7.5 per cent in the medium term. According to the report, notable essential food items such as cooking oil rose by 3.1 per cent, sugar by 5.3 per cent, and sifted maize flour by 5.1 per cent during the review period.