The cost of living in Kenya has hit a one-year high. In the month of September, inflation in the country increased to 5.7 per cent 4.04 per cent the previous month.
This rise has been attributed to the rise in fuel taxes that has seen Kenyans buying basic commodities such as kerosene expensively than diesel.
Data from Kenya National Bureau of Statistics (KNBS) released Friday showed that all the broad baskets used to measure inflation recorded an increase, pointing to the multiple sectors that felt the 16 per cent Value added Tax (VAT) that has since been reduced to eight per cent.
The statistics office said that transport index increased by 7.99 per cent compared to the previous month and 17.29 per cent compared to a similar month last year.
“This was mainly on account of increase in the pump prices of petrol and diesel which triggered increase in prices of other transport components,” said KNBS in a statement.
Matatus were charging Sh. 449.77 per 250-kilometre journey, up from Sh. 416.75, according to KNBS data. When compared to last year in September, matatu prices are up 18.5 per cent.
Price of kerosene averaged Sh. 109.25 per litre, being 27.2 per cent higher than it cost in August. Compared to September last year, this commodity is now 67.2 per cent more expensive. This even as the price of charcoal rose by 2.6 per cent to Sh. 141.24 per four kilograms. When compared to a similar month last year, charcoal prices are up 72.5 per cent.
“Charcoal prices increased drastically sometimes ago and this relates to the ban on logging. We expect this to remain so because this ban remains in place,” Central Bank of Kenya (CBK) governor Patrick Njoroge had said on Wednesday.