Kenya Inflation April 2019

Kenya

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.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.3% in 2019, which is down 0.2 percentage points from last month’s forecast. For 2020, the panel sees inflation averaging 5.8%.


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Kenya Inflation April 2019 1

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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