Maize flour prices push up June inflation to 5.7pc
Women buying maize flour at a Nairobi supermarket. It cost more to buy maize flour in June than it did in May due to rise in the cost of living. PHOTO | FILE | NATION MEDIA GROUP
What you need to know:
- Cost of maize flour in June took away the temporary benefits of the spending power.
- Rise in prices of maize flour, beans and green grams among other foodstuffs pushed inflation to 5.7 percent in June.
Rise in prices of maize flour, beans and green grams among other foodstuffs pushed inflation to 5.7 percent in June, took away the temporary benefits on the cost of living brought about by recent rainfall.
This is an increase from the 5.49 percent recorded last month.
Inflation measures the cost of living and an increase means that consumers used more money to buy the same quantiles of foods than they did the previous period and this takes away their spending power.
VEGETABLE PRICES
The Kenya National Bureau of Statistics (KNBS) said though the prices of vegetables among them spinach, kales and tomatoes recorded decreases of 2.42, 6.87 and 0.36 percent respectively on account of good weather, prices of maize, beans, green grams and sifted maize flour increased during the same month.
A kilogramme of loose maize grain was retailing at an average price of Sh48.70 in June, up from Sh48.45 in May. A kilo of beans was selling at Sh120.26, up from Sh118.33 last month.
“Over the same period, housing, water, electricity, gas and other fuel’s index increased by 0.05 percent as a result of higher costs of house rents which outweighed notable drops in the cost of electricity and kerosene,” KNBS director-general Mr Zachary Mwangi said in a statement.
Mr Mwangi said in that regard, the cost of consumption of 50kWh and 200kWh of electricity decreased by 0.91 percent and 0.64 percent respectively.
“The transport index increased by 0.26 percent, on account of increase in pump prices of petrol and diesel,” KNBS added.
In June 2019, the food and non-alcoholic index decreased by 1.6 percent compared to a decline of 0.37 percent in May.
“This was mainly due to favourable weather conditions which led to increased food production and subsequently to reduced food prices for some commodities,” KNBS said.
