Kenya: Inflation falls in June but remains above the target range
June 30, 2017
Consumer prices fell 1.2% in June from the previous month, which contrasted May’s 0.8% rise. June’s drop was led by a notable fall in food and non-alcoholic beverages prices which offset an increase in the majority of the remaining index components.
Inflation came in at 9.2% in June, down from 11.7% in May and falling for the first time this year. Nevertheless, the reading remained above the Central Bank’s inflation target range of 5.0% plus/minus 2.5 percentage points for the fifth consecutive month. Annual average inflation increased from 7.8% in May to 8.1% in June, the highest reading in over four years.
Author: Nihad Ahmed, Economist