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Browsing: fuels inflation
Kenya’s inflation is expected to remain well anchored within the target range, against the backdrop of COVID-19 shock and its spillover to the economy.
This is according to a new report by Central Bank of Kenya (CBK) which has reveals that a hike in food and fuel prices has been impacting the rate of inflation.
In July for instance, year on year inflation rate, which is measured by the Consumer Price Index (CPI) was 6.44 percent, in July 2021.
The Kenya National Bureau of Statistics attributed the rise in inflation increase in prices of commodities especially food and transport.
“Food and non-alcoholic beverages prices increased by 8.84 percent, while housing, water, electricity, gas and other fuels rose by 6.03 percent,” KNBS noted.
Transport was however the commodity with the biggest hike, after prices shot up by 10.33 percent between July 2020 and July 2021.
The CPI increased by 0.20 …
Uganda’s consumer price inflation moderated in January after striking its highest level in fifteen months in the previous month.
According to the Uganda National Bureau of Statistics(UBOS), in January the annual rate on the consumer price index (CPI) fell to 3.4 per cent from 3.6 per cent in December, the second-lowest in ten months.
Uganda National Bureau of Statistics attributed the decrease in the headline inflation rate to a fall in annual footwear and clothing inflation, to 2.4 per cent against the 4.3 per cent reported for the 12 months ending December 2019.
In January, the annual transport inflation rate also decreased due to reductions in transport prices following the end of the festive season.
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Core inflation, which removes volatile food and energy prices and is closely monitored by the central bank, was unchanged at 3 per cent …