Maize flour records highest prices in inflation trend.
Ever since the rise in the economic trend or inflation, Maize flour records highest prices in the trend.
Maize flour suppliers have reported that the increase has amounted to 37.9 per cent.
This was followed closely by kerosene which increased by 30.5 percent.
Despite the subsidy programme that was implemented by President Uhuru Kenyatta together with treasury, the inflation rate keeps soaring.
According to the Kenya national Bereau of Statistics, the inflation rate shot to 7.5% despite the government’s efforts to keep it at 2.5%.
KNBS stated,”The rise in inflation was mainly due to an increase in prices of commodities under food and non-alcoholic beverages (15.3 %), transport (7.6 %)and housing, water, electricity, gas and other fuels (5.6 %) between August 2021 and August 2022.”
According to statistics , its been months since the economy trend surpassed the 7.5% limit.
The consumer price index measured a 0.4 % increase from the month of July 2022 to August 2022
“The consumer price index (CPI) is the instrument to measure inflation. It is used to estimate the average variation between two given periods in the prices of products consumed by households. It is a composite measurement of trends in the prices of products, at constant quality.” Note.
In August 2022 alone, the price of sugar increased by 4.6%, Maize flour by 4.7%.
In groceries, the price of Mangoes increased by 4.1%, carrots dropped by 6.4%, Onions also dropped by 2.4%.
In wines and spirits, Alcohol and other narcotics increased by 0.7% that is in the month of July and August.
KNBS has argued that,”This was mainly due to an increase in prices of beer (lagers and stouts) and wines which increased by 1.2 per cent and 0.8 per cent respectively.”
Also read Maize flour Prices would have lowered if not for Raila- Gachagua
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Courtesy: Kenyans.co.ke