Kenyans should brace for tougher times ahead, even as the inflation rate continues to soar with the rates hitting 4.95 percent in the month of September.
The rise, according to the Kenya National Bureau of Statistics (KNBS), the shift is attributable to the index of the alcohol, tobacco and narcotics which rose the highest, going up by 1.97 percent as a result of a hike of excise tax.
The indices of maize grain-loose, maize grain-sifted and tomatoes increased by 5.82, 4.58, 4.44 percent respectively. Maize floor is retailing at Ksh145, up from Ksh90 earlier this year.
Read: Kenya’s Twiga Foods Banks On Ksh3 billion Booster To Expand To West Africa
Transport index decreased by 0.27 percent attributable to the decrease in pump prices of diesel and petrol.
The country’s headline inflation averaged 5.2 percent in the twelve months to September, within the 2.5 to 7.5 percent target, due to lower energy prices.
Core inflation, which excludes food and fuel prices, has stayed below 5 percent in the past three years, reflecting subdued demand pressures in the economy, spillover effects of an excise tax and recent increase in fuel prices, according to the National Treasury.
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