Better economic signals as inflation rate decreases in February

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Better economic signals as inflation rate decreases in February

Latest reports from the Kenya National Bureau of Statistics (KNBS) show that inflation rate for the month of February 2019 hit the lowest from back in August 2018, a clear six-month time difference where it was at 4.04%. They declare that last month (February) saw the rate go down to 4.14% while attributing this improvement to food prices and transport going down significantly during the said month.

This has been significantly due to the reduced pump prices on fuel revised by the Energy Regulatory Commission (ERC), specifically diesel, kerosene and diesel by Shs.6.28, Shs.5.20 and Shs.4.12 per liter respectively, it led to a decrease in the transport index by at least 0.5%. Relative to this development, basic commodities such as sifted maize, wheat flour and sugar prices all went down.

These figures were collected over the mid-month weeks of February 2019 from selected retail outlets in both the capital and other major urban centers across the nation. February’s inflation rate has marked a third month straight fall, hinting of a better year economically compared to the same period the previous year. This comes as a relief to most residents due to the prevailing rise in the cost of commodities over the past few months with many in the country feeling the pressure of bearing the high cost of living.

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