Kenya Inflation December 2015

Kenya

Kenya: Inflation jumps at the end of 2015 on higher food prices

December 31, 2015

In December, consumer prices rose 1.07% over the previous month, coming in above the 0.52% increase observed in November. December’s result was mainly fueled by higher prices for food and non-alcoholic beverages.

Inflation climbed from November’s 7.3% to 8.0% in December, which marked a fourth consecutive rise and the highest reading since August 2014. As a result, inflation closed the year above the Central Bank’s inflation target range of 2.5 percentage points around its 5.0% target. Annual average inflation in December inched up from November’s 6.4% to 6.6%.

FocusEconomics Consensus Forecast panelists expect inflation to average 6.7% in 2016, which is up 0.3 percentage points from last month’s forecast. In 2017, the panel sees average inflation at 6.1%.


Author: Teresa Kersting, Economist

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Kenya Inflation December 2015

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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