Kenya Inflation February 2018

Kenya

Kenya: Inflation drops in February but remains within the Central Bank's target range

February 28, 2018

Consumer prices rose 1.36% over the previous month in February, marginally up from January’s 1.32% month-on-month increase. The print marks the biggest increase in prices since April 2017. Prices climbed in all 12 sub-categories of the index. A surge in prices for food and non-alcoholic beverages was the biggest contributor to the jump in prices, while recreation and culture saw the smallest upturn in prices.

Conversely, inflation dropped to 4.5% in February after rising to a five-month high of 4.8% in January. It therefore remained close to the mid-point of the Central Bank’s medium-term target range of 2.5%–7.5%. Annual average inflation mirrored January’s figure, coming in at 7.8%.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.2% in 2018, which is down 0.3 percentage points from last month’s forecast. For 2019, the panel sees inflation averaging 6.3%.


Author:, Economist

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Kenya Inflation February 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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