Kenya’s overall inflation rate drops

Nairobi, June 1 (IANS) Kenya’s overall rate of inflation dropped marginally to 4.05 percent in May from 4.14 percent in April, the statistics bureau said.

The low and stable inflation was supported by stability in the exchange rate and decline of international oil prices.

The National Bureau of Statistics (KNBS) said the Consumer Price Index (CPI) computed using the geometric mean approach increased by 0.17 percent from 139.28 in April to 139.52 in May, reported Xinhua.

The bureau which obtained prices from selected retail outlets in 25 data collection zones located in 13 urban centres said that between April and May, food and non alcoholic drinks’ index increased by 0.51 percent.

The fall in the annual inflation came as Kenyans enjoyed a decline in cost of living as a result of the decrease of inflation and cost of international oil.

The decline in commodity prices is a relief to millions of consumers in the East African nation, majority of whom were getting crushed under the weight of high cost of living months ago.

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