Nairobi, Kenya: The inflation rate has significantly dropped from January to the end of Quator 3 in September, showing a marginal ease to the consumers in the country.
The overall year-on-year inflation rate in September 2024 fell to 3.6% compared to 4.4% in the previous month of August. The month-on-month inflation stood at 0.2% following a slight increase in the overall index between August and September 2024.
According to data from the Kenya National Bureau of Statistics (KNBS) for the month of September, the inflation rate decreased from 6.9% to 3.6% between the months of January and September, indicating advancement and a loosening of the cost of living.
Rate of Inflation in the Final Nine Months of 2024
The overall consumer price index increased to 140.13% in September 2024 from 135.32% in 2023 in the same period, resulting in a partial inflationary trajectory.
The average inflation rate in the first quarter (Q1) stood at 6.3%. A marginal change was recorded in the second quarter of the year, in a record 4.9%, signaling an IR drop by 1.4 in the month ending June.
The general price level was higher in September 2024 than it was in 2023 in the same period, according to KNBS, which attributes the slight change to the rise in price of commodities under food and non-alcoholic beverages.
