Food, fuel costs hit consumer wallets


Food, fuel costs hit consumer wallets
File image of packets of maize flour at a supermarket. PHOTO| COURTESY

In Summary

  • Fresh data from the Kenya National Bureau of Statistics (KNBS) attributes the notable rise in the consumer price index (CPI) to the significant increase of key foodstuffs which outweighed recorded decreases,
  • Other commodity price increments were observed in the pricing of Irish potatoes, tomatoes and mineral water with the latter seeing costs rise from the implementation of the Excisable Goods Management System (EGMS) to outweigh decreases in the cost of milk and sugar.
  • The hike in consumer prices is expected to pile the pressure on Kenyans ahead of the festive season which is too historically characterized by price hikers particularly on transport.

Kenyans will now be forced to fork out more from their thinning pockets as the November inflation rate skyrockets to a four month high of 5.6 percent from a flat five percent in October.

According to data from the Kenya National Bureau of Statistics (KNBS) the notable rise in the consumer price index (CPI) is as a result of the significant increase of key foodstuffs which outweighed recorded decreases.

Unga prices for instance rose by 4.3 percent month on month to keep with the observed hike of 5.8 percent in October.

Other commodity price increments were observed in the pricing of Irish potatoes, tomatoes and mineral water with the latter seeing costs rise from the implementation of the Excisable Goods Management System (EGMS) to outweigh decreases in the cost of milk and sugar.

Midway through November, the Energy and Petroleum Regulatory Authority (EPRA) impacted increments to fuel prices across the board by an average Ksh.2.72 to impact both energy and transport costs during the month.

As such, the housing and transport index which accounts for a combined weight total of 27 percent of the house-hold consumption basket rose by 0.3 points as rent and cooking costs surged forward from October.

The hike in consumer prices is expected to pile the pressure on Kenyans ahead of the festive season which is too historically characterized by price hikers particularly on transport.

Combined, food and fuel costs impact nearly three-quarters of the average expenditure of households.

For Citizen TV updates
Join @citizentvke Telegram channel



Video Of The Day: 5 people dead, 32 rescued, 27 unaccounted for in Tassia building collapse

Avatar
Story By Kepha Muiruri
More by this author