Kenya Inflation June 2016

Kenya

Kenya: Inflation picks up in June

July 7, 2016

In June, consumer prices rose 1.05% over the previous month, coming in above the 0.55% increase observed in May. June’s rise mainly reflected higher prices for food and non-alcoholic beverages.

Inflation jumped from 5.0% in May to 5.8% in June, thus reverting a trend of five monthly drops. Despite the 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 6.6% in May to 6.5% in June.

FocusEconomics Consensus Forecast panelists expect inflation to average 6.0% in 2016, which is down 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 June 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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