Kenya Inflation July 2016

Kenya

Kenya: Inflation rises in July

July 29, 2016

In July, consumer prices rose 0.64% over the previous month, coming in below the 1.05% increase observed in June. June’s rise mainly reflected higher prices for food and non-alcoholic beverages.

Inflation jumped from 5.8% in June to 6.4% in July, which marked the highest reading in four months. Despite the increase, inflation remained within the Central Bank’s inflation target range of 2.5 percentage points around its 5.0% target. Annual average inflation remained at June’s 6.5% reading.

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 July 2016 0

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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