Kenya Inflation October 2018

Kenya

Kenya: Inflation edges down in October from September's 11-month high

October 31, 2018

Consumer prices fell 0.79% over the previous month in October, contrasting a 1.02% month-on-month increase in September. Nine out of the 12 sub-components saw rise in prices, two recorded lower prices, while the remaining one came in flat. The downturn was spearheaded by a decline in the prices of food and non-alcoholic beverages, although partially offset by a sharp rise in communication costs. Meanwhile, prices for education remained stable from the previous month.

Inflation edged down to 5.5% in October from September’s 11-month high of 5.7%. Although moderating from the previous month, inflation was kept elevated by a steep rise in fuel and transport costs. Nonetheless, it remained within the Central Bank’s medium-term target range of 2.5%–7.5%. Meanwhile, annual average inflation in October remained at September’s 4.5%.

FocusEconomics Consensus Forecast panelists expect inflation to average 6.0% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees inflation averaging 5.9%.


Author:, Economist

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Kenya Inflation October 2018

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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