January 30, 2024

Inflation is gradually shrinking

In December 2023, consumer prices were 5.5% higher on average than a year earlier and decreased by 0.3% on average compared to November. In 2023, consumer prices were up by 17.6% on average compared to the previous year, according to the Central Statistical Office KSH.

A price rise of 4.8% was recorded for food, for sugar (42.1%), chocolate and cocoa (17.2%), soft drinks (16.1%) and coffee (14.1%) being the most expensive. Within the product group, the prices of eggs fell by 18.1%, flour by 17.8%, cheese by 15.5%, butter and butter cream by 14.5%, pasta by 11.0% and milk by 10.3%. Household energy became 13.9% cheaper. Services became 12.4% more expensive.