Kenya’s Inflation Rate Drops to 6.45%
The inflation rate for October 2021 dropped to 6.45% as a result of a decrease in transport and fuel prices
Kenya’s October inflation rate dropped to 6.45% from 6.91% in September. This was mainly attributed to a decrease in fuel and transport prices.
Food and Non-Alcoholic Drinks Index rose by 1.11% between September 2021 and October 2021.
The Transport Index decreased by 0.35% mainly due to a drop in petrol and diesel price, which fell by 3.69% and 4.29%.
Housing, Water, Electricity, Gas and Other Fuels’ Index increased by 0.67% due to increased cooking gas (LPG), electricity, and house rent.
What it means for you
With the rise in inflation, the cost of goods and services becomes more expensive.
On the other hand, it means that your savings and investments should bring you higher rates of 6.45% to offset the effects of inflation on your money.
If you want to find out more, I wrote an article about the impact of inflation on your savings and investments.
Disclaimer: This article provides information and education for investors. Please do your research and consult your financial advisor before making any decisions.
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