A food market. [Photo/businessdaily]
Inflation for the month of November eased to 4.73 per cent from 5.72 per cent recorded last month as favourable weather conditions in the country led to the fall in cost of several food items.
The drop marks a 54-month low for the cost of living index, which last hit such lows in May 2013 when it stood at 4.05 per cent.
“Between October and November 2017, food and non-alcoholic drinks’ index decreased by 1.33 per cent,” the Kenya National Bureau of Statistics (KNBS) said in a statement Thursday.
The general decline in the cost of food comes as a relief to consumers who have been grappling with the effects of a drought that pushed prices through the roof, thus cutting the purchasing power of many households.
Other items such as housing, water, electricity, gas and other fuels recorded a 1.74 per cent increase owing to increases in rents, power and other cooking fuels.