Kenya’s inflation rate soars to 9 pct

Kenya’s overall monthly inflation increased sharply to 9.04 percent in February from 6.99 percent in January driven by increase in the cost of food due to prevailing drought conditions, the statistics bureau said on Tuesday.

The Kenya National Bureau of Statistics said the Consumer Price Index (CPI) computed using the geometric mean approach increased from 176.93 in January to 179.88 in February.

“Between January and February, Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.40 percent,” the bureau said in a statement released in Nairobi.

“This was mainly due to increases in cost of electricity, kerosene and house rents which outweighed price decrease in the cost of cooking gas,” it added.

According to the bureau, Food and Non-Alcoholic Drinks’ Index increased by 3.28 percent mainly attribute to increases in prices of kales, maize flour, milk, cabbages, spinach, potatoes and maize grain among others.

“This was partly contributed by prevailing drought conditions. The year on year food inflation stood at 16.50 percent in February,” it said.

The Transport Index rose by 0.74 percent in February compared to January mainly on account of increases in the pump prices of petrol and diesel,” the bureau said.

The prices were obtained from selected retail outlets in 25 data collection zones located in Nairobi and 13 other urban centres.

Source:http://news.xinhuanet.com/