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.
Author: Nihad Ahmed, Economist