Kenya Inflation May 2017

Kenya

Kenya: Inflation moves further above target range in May

May 31, 2017

Consumer prices rose 0.8% in May compared to the previous month, coming in below the 1.8% increase observed in April. May’s increase mainly reflected higher prices in the food and non-alcoholic beverages and the alcoholic beverages, tobacco and narcotics categories.



Inflation increased from 11.5% in April to 11.7% in May, the highest reading in five years. The figure remained above the Central Bank’s inflation target range of 5.0% plus/minus 2.5 percentage points for the third consecutive month. Annual average inflation also rose, increasing from 7.3% in April to 7.8% in May, the highest number in over four years.

FocusEconomics Consensus Forecast panelists expect inflation to average 8.9% in 2017, which is up 0.9 percentage points from last month’s forecast. In 2018, the panel expects average inflation of 6.5%.


Author:, Economist

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Kenya Inflation May 2017

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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