Kenyans experienced mixed fortunes in 2024 as the cost of living evolved unevenly across sectors, with some essentials becoming more affordable while others continued to strain household budgets.
According to the latest data from the Kenya National Bureau of Statistics (KNBS), the annual inflation rate cooled to 4.5 per cent down from 6.8 per cent in 2023. The moderation was largely attributed to lower food prices and the strengthening of the Kenyan shilling against foreign currencies, especially between July and December.
Staple items like maize grain, a key component of most meals, saw the largest price drop at 19.3 per cent. This decrease filtered into lower maize flour prices, providing relief to millions of households. Improved rainfall also supported an increase in food supply, helping contain price surges in the food and non-alcoholic beverages category, which rose more slowly at 5.6 per cent compared to 9.7 per cent the previous year.
However, not all kitchen staples became cheaper. Prices for vegetables such as cabbages, sukuma wiki, and potatoes spiked significantly rising 23.4, 21.5, and 20.9 per cent, respectively. The cost of coffee and its substitutes also surged by 21.7 per cent, making a morning cup more expensive for Kenyan consumers.
In transport, commuters felt a smaller pinch compared to 2023. Matatu and bus fares increased, but at a lower rate driving a 5.0 per cent rise in the transport index, compared to 12.2 per cent the year before. Lower petrol and diesel prices played a key role in easing pressure on travel costs.
Meanwhile, cocoa drinks became less sweet for consumers’ wallets, climbing 16.3 per cent due to global cocoa supply constraints. The cost of alcoholic drinks and tobacco also rose, with miraa, beer, and cigarettes pushing the category’s inflation rate to 7.8 per cent.
Interestingly, sugar and desserts saw the most notable price reversal, dropping by 10.7 per cent a rare break for consumers with a sweet tooth.
Overall, 2024 brought some relief to household budgets, but the uneven nature of price movements means not all consumers felt the benefit equally.
