Inflation rises to 6.34% in September 2016

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Kenya’s year on year inflation rose to 6.34 percent in September from 6.26 percent in August attributed to a rise in food and non-alcoholic beverages inflation to 10.94 percent from 10.85 percent in the period according to the Kenya National Bureau of Statistics.

Consumer prices rose by 0.34 percent in a monthly period, from a previous rise of 0.08%

Housing, water, electricity, gas and other fuels also gained 0.48 percent from a rise of 0.25 percent the previous month.

Read Also: Brace Yourselves As Inflation Is Expected To Rise

Transport prices, however, declined by 0.38 percent from a decline of 0.07 percent in July even as housing, water, electricity, gas and other fuels gained 0.05 percent.

Clothing and footwear also rose to 3.77 percent from 3.68 percent as well as hotels and restaurants to 5.4 percent from 5.48 percent.

Changes in the financial sector such as the recently enforced lending rate cap have come up as strong influencers of the direction the economy will take in the coming months as the country aims to maintain financial stability and inflation pressures.

By: Humphrey Ngugi

@H_NGUGI

@biznewsKE

editor@biznews.co.ke