Kenya: Inflation falls to the upper limit of the Central Bank's target range in July
July 31, 2017
Consumer prices fell 1.0% from the previous month in July, following a 1.2% decline in June. Lower prices for food and non-alcoholic beverages drove the result. A fall in the prices of housing, water electricity, gas and other fuels, and transport also contributed to the downward movement, which more than offset a rise in the majority of index sub-components.
Inflation fell markedly from 9.2% in June to 7.5% in July, which coincides with the upper bound of the Central Bank’s inflation target range. This was the first time in five months that inflation has not exceeded the upper limit. Nevertheless, annual average inflation increased marginally from 8.1% in June to an over four-year high of 8.2% in July.
Author: Nihad Ahmed, Economist