Kenya: Inflation jumps to over five-year high in October
Inflation came in at 9.6% in October, which was up from Septembers 9.2%. October’s result was the highest inflation rate since May 2017. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a brisker pace in October. Additionally, prices for transportation also rose at a stronger pace. These more than offset housing, utilities and fuel prices increasing at a more moderate pace in October.
Accordingly, the trend pointed up; annual average inflation rose to 7.1% in October (September: 6.8%).
Finally, consumer prices increased a seasonally adjusted 0.89% over the previous month in October, largely in line with September’s 0.92% rise.