Kenya Inflation May 2018

Kenya

Kenya: Inflation climbs in May

May 31, 2018

Consumer prices rose 0.97% over the previous month in May after a 1.35% month-on-month increase in April. 10 out of the 12 sub-components recorded higher prices, one came in flat and the remaining category recorded lower prices. Prices for food and non-alcoholic beverages rose the most, prices for education came in flat and prices for alcoholic beverages, tobacco and narcotics fell from the previous month.

Inflation climbed to 4.0% in May, up from 3.7% in April, interrupting four consecutive months of increasing climb. It remains close to the mid-point of the Central Bank’s medium-term target range of 2.5%–7.5%. Nonetheless, annual average inflation dropped to 5.6% in May from 6.2% in April.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.3% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, the panel sees inflation averaging 6.4%.


Author:, Economist

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Kenya Inflation May 2018 0

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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