Kenya: Inflation rises to four-month high in June
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.