Kenya’s inflation rate, as measured by the Consumer Price Index (CPI), experienced a slight uptick in September 2023, rising from 6.7% in August to 6.8%. This increase has been attributed to significant spikes in fuel prices.
In September, the cost of petrol per liter surged from Ksh195.32 to Ksh212.25, marking an 8.7% increase. Similarly, the price of paraffin rose from Ksh170.25 to Ksh203.34 per liter, reflecting a 19.4% increase. Diesel prices also climbed, with a liter costing Ksh201.73 in September, compared to Ksh180.42 in August, representing an 11.8% increase.
Inflation data from the Kenya National Bureau of Statistics (KNBS) revealed a general rise in prices across various sectors, following a slowdown observed in August 2023. Key drivers of September’s inflation included substantial price hikes in potatoes (18.4%), cabbages (7.4%), and sukuma wiki (4.2%).
On the other hand, the cost of maize flour, a staple for many households, decreased by varying percentages ranging from 3.6% to 6.7% for different brands and grains during September.
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While the price of a 13kg cooking gas rose slightly from Ksh2709.07 in August to Ksh2795.69 in September, marking a 3.2% increase, it’s worth noting that this price level was still 10% lower than that of September 2022. Kerosene prices surged by 19.4% during the review period. Electricity prices for 200 kWh and 50 kWh decreased by 2.1% and 2.5%, respectively, between August and September 2023.
The Transport Index saw a 3.5% increase between August and September 2023, primarily due to the rising costs of petrol (8.7%) and diesel (11.8%).
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Overall, the cost of transport, food, non-alcoholic beverages, housing, water, electricity, gas, and other fuels collectively increased by 13.0%, 7.9%, and 6.3%, respectively, between September 2022 and September 2023. These three categories account for a significant portion of the goods and services consumed by Kenyan households.
