Kenya: Inflation drops in August
August 31, 2018
Consumer prices rose 0.31% over the previous month in August, contrasting a 0.89% month-on-month decline in July. Out of the total 12 sub-components, 10 recorded higher prices, one was stable from the previous month, and the remaining one registered a drop in prices. Prices for alcoholic beverages, tobacco and narcotics increased the most while prices for education were unchanged from the previous month, and prices for food and non-alcoholic beverages was the only category that recorded a fall in prices.
Inflation dropped to 4.0% in August from July’s five-month high of 4.4%, remaining close to the midpoint of the Central Bank’s medium-term target range of 2.5%–7.5%. Meanwhile, annual average inflation declined to 4.6% in August from 5.0% in July.
Author: Nihad Ahmed, Economist