Kenya: Inflation soars in September to the highest in 11 months
September 28, 2018
Consumer prices increased 1.02% over the previous month in September, following a 0.31% month-on-month rise in August. 10 out of the 12 sub-components recorded higher prices, with transport prices leading the way, soaring by a notable magnitude. Meanwhile, prices for the remaining components— education and communication—came in flat.
Inflation climbed sharply in September to an 11-month high of 5.7%, up from 4.0% in August. Higher fuel and transport costs drove the upsurge. Nevertheless, it remained within the Central Bank’s medium-term target range of 2.5%–7.5%. Meanwhile, annual average inflation inched down to 4.5% in September, from 4.6% in August.
Author: Nihad Ahmed, Economist