October inflation down 6.45% on fuel cost cut

October inflation down 6.45% on fuel cost cut

The cost of living for the month of October eased slightly when inflation rate dropped to 6.45 percent against September rate at 6.91 percent.

This is anchored on recent intervention by the government to lower the cost of fuel.

According to the Kenya National Bureau of Statistics (KNBS), the transport index which makes up slightly under 10 percent of the standard consumer basket eased by 0.35 percent indicating lower travel costs.

During the last maximum pump price review by the Energy and Petroleum Regulatory Authority (EPRA), the cost of petrol, diesel and kerosene fell by 3.69, 4.29 and 6.51 percent.

This is because of the reinstatement of the petrol price stabilization mechanism to help cushion Kenyans against high landed costs for petroleum imports.

Further, gas prices have remained on the rise pushing up the housing, water, gas and other fuel’s index by 0.67 percent.

A 13 kilogram of Liquid and Petroleum Gas (LPG) cylinder presently averages Ksh.2513.74 from a lower Ksh.2445.23 in September.

The month of October has witnessed the lowest rate of inflation for the last four months.

This comes at a time when curfew that has existed since the advent of COVID-19 pandemic in March 2020, thus signaling the ease of movement of goods and services across the country.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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