Kenya Inflation May 2016

Kenya

Kenya: Inflation falls to almost-three-year low in May

May 31, 2016

In May, consumer prices rose 0.55% over the previous month, coming in below the 0.69% increase observed in April. May’s rise mainly reflected higher prices for food and non-alcoholic beverages.

Inflation fell for a fifth month in a row, dropping from 5.3% in April to 5.0% in May, which represented the lowest value since June 2013. As a result, inflation remained within the Central Bank’s inflation target range of 2.5 percentage points around its 5.0% target. Annual average inflation inched down from 6.7% in April to 6.6% in May.

FocusEconomics Consensus Forecast panelists expect inflation to average 6.4% in 2016, which is unchanged from last month’s forecast. In 2017, the panel sees average inflation at 6.2%.


Author: Teresa Kersting, Economist

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Kenya Inflation May 2016

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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