Kenya Inflation July 2022

Kenya

Kenya: Inflation comes in at an over five-year high in July

July 29, 2022

Consumer prices increased a seasonally-adjusted 0.67% in July over the previous month, below June's 0.89% increase. July's result marked the softest rise in prices since February. The moderation was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, housing, utilities and fuel, and transportation.

Inflation came in at 8.3% in July, which was up from June’s 7.9%. July's reading represented the highest inflation rate since June 2017. Consequently, the trend pointed up mildly, with annual average inflation coming in at 6.4% in July (June: 6.3%).

FocusEconomics Consensus Forecast panelists expect inflation to average 7.1% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, the panel sees inflation averaging 6.5%.


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Kenya Inflation July 2022

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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