Kenya: Inflation soars to 19-month high in April
April 30, 2019
Consumer prices climbed markedly over the previous month in April, rising 3.51% month-on-month. This marks a much bigger increase than March’s 1.60% rise. A surge in the prices for food and non-alcoholic beverages drove the upturn. Delay in the advent of the rainy season has led to the onset of drought conditions weighing on agricultural output, which has in turn pushed up food prices.
Inflation soared in April to 6.6%, from 4.4% in March. Thus, it moved above the mid-point of the Central Bank’s 2.5%–7.5% target range. Elevated fuel and food costs, coupled with a weakening in the shilling, propelled price pressures to the highest in 19 months. Meanwhile, annual average inflation edged up to 4.9% in April from 4.7% in March.
Author: Nihad Ahmed, Economist