Kenya Inflation August 2017

Kenya

Kenya: Inflation climbs in August, overshooting the Central Bank's upper bound target

August 31, 2017

Consumer prices rose 0.61% from the previous month in August, contrasting July’s 0.97% decline. While higher prices for health and food and non-alcoholic beverages drove the upswing, the gains were broad-based, as all but two sub-categories recorded price increases. The two exceptions were education, for which prices remained flat, and recreation and culture, which saw a marginal dip in prices.

Emulating the month-on-month change in consumer prices, inflation rose to 8.0% in August, reviving the upward trend after falling to the upper bound of the Central Bank’s target range of 7.5% in July. This spurred annual average inflation to edge up to 8.4% in August from 8.2% in July.

FocusEconomics Consensus Forecast panelists expect inflation to average 9.4% in 2017, which is down 0.2 percentage points from last month’s forecast and 6.5% in 2018, which is down 0.1 percentage points from the previous month’s estimate.


Author:, Economist

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Kenya Inflation August 2017

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Kenya National Bureau of Statistics (KNBS).


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