Kenya Inflation June 2018

Kenya

Kenya: Inflation rises to four-month high in June

June 29, 2018

Consumer prices declined 0.89% over the previous month in June, after a 0.97% month-on-month rise in May. The fall in prices was due to a sharp drop in the prices for food and non-alcoholic beverages, while the remaining 11 categories saw an upturn in prices. Prices for housing, water, electricity, gas and other fuels increased by the biggest magnitude.

Inflation rose to a four-month high of 4.3% in June, up from 4.0% in May, moving closer to the Central Bank’s medium-term target range of 2.5%–7.5%. On the other hand, annual average inflation declined to 5.2% in June, down from 5.6% in May.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.4% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees inflation averaging 6.3%.


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Kenya Inflation Chart


Kenya Inflation June 2018 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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