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Consumer prices up 3.6% y/y in May

Consumer prices rose 3.6% yr/yr in May, the Central Statistics Office (KSH)
announced on Tuesday. Prices rose 0.6 % from April to May. The May increase in consumer prices was driven by food prices which increased 2.1% from May due to a sharp 20.3 % monthly rise in seasonal food prices. Excluding seasonal foodstuff, food prices dropped 0.4 % in May, KSH said. Prices in all other product groups
either rose at a below average monthly rate or actually dropped in
the month. Household energy prices remained flat while car fuel
prices fell 0.1 % and consumer durable prices dropped 0.3 % from
April. Five-month average consumer prices were 3.6 % higher than in
January-May 2004. Twelve-month CPI bottomed out at 3.2 % in February - the lowest twelve-month rise in more than twenty years, and was 3.5 % in March.