The Kenya National Bureau of Statistics (KNBS) has identified cooking oil as one of the commodities that experienced price increases between October and November 2024.
In its latest report released on Friday, November 29, KNBS also highlighted sugar, maize flour, tomatoes, maize grains, international flight tickets, house rent, and wheat flour as among the items whose prices significantly rose in November.
The report revealed that the price of sifted maize flour increased by 5.1%, while fortified maize flour went up by 4.9%. Prices of cooking oil, tomatoes, maize grain, and monthly house rent rose by 3.1%, 2.6%, 1.4%, and 1.1%, respectively.
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These price increases contributed to a slight uptick in the inflation rate, rising from 2.7% in October to 2.8% in November, according to KNBS.
“Overall annual inflation rate, as measured by the Consumer Price Index (CPI), was 2.8% in November 2024, a slight increase from 2.7% recorded in October 2024. The month-to-month inflation rate was 0.3% in November 2024,” the report noted.
KNBS attributed the rise in inflation primarily to higher prices of commodities classified under the Classification of Individual Consumption by Purpose (COICOP) divisions.
However, the report also indicated a significant price drop for eight products. Electricity, fresh milk, carrots, cabbages, onions, potatoes, and cooking gas were among the commodities whose prices declined in November.
Specifically, the cost of 200-watt and 50-watt electricity units dropped by 0.3%, while prices for fresh milk, carrots, and cabbages fell by 2%, 2.4%, and 2.6%, respectively. Onions, potatoes, and cooking gas recorded declines of 2.7%, 2.8%, and 1.1%, respectively.
The new data follows a previous KNBS report in October, which showed a sharp decline in inflation from 3.6% to 2.7% due to reduced food prices.
The latest price increases come amid concerns raised by the Central Bank of Kenya (CBK) about potential inflationary pressures between October and November. CBK attributed the rising food prices to the ongoing short rains, which have disrupted food production across the country.
Additionally, the global surge in oil prices, driven by the ongoing conflict in the Middle East between Israel and Pakistan, has also contributed to the rise in food and commodity prices.
