Inflation in Kenya
Consumer price inflation in Kenya averaged 6.9% in the ten years to 2024, in line with the Sub-Saharan Africa regional average of 6.9%. The 2024 average figure was 4.5%. For more information on inflation, visit our dedicated page
Kenya Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Kenya from 2024 to 2023.
Source: Macrobond.
Kenya Inflation Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 5.4 | 6.1 | 7.7 | 7.7 | 4.5 |
Inflation (CPI, ann. var. %, eop) | 5.6 | 5.7 | 9.1 | 6.6 | 3.0 |
Inflation eases further below midpoint of the target range in May
Latest reading: Inflation eased to 3.8% in May from April’s eight-month high of 4.1%. As a result, the reading remained below the midpoint of the Central Bank’s 2.5–7.5% target range for the 12th consecutive month, the longest stretch since 2010. Looking at the details of the release, price pressures for food and non-alcoholic beverages—which make up a third of the inflation basket—eased; the government released corn from its strategic grain reserve in late May, which should further contain inflation ahead. Meanwhile, cost rises for transport and housing were unchanged from April in May. Lower oil prices and subdued domestic demand plus higher FX reserves bolstering the currency further likely depressed price growth. As a result, the trend pointed down, with annual average inflation easing to 3.6% in May (April: 3.7%). Finally, consumer prices rose 0.50% over the previous month in May, accelerating from the 0.30% rise logged in March.
Panelist insight: EIU analysts commented: “We forecast that […] year-end inflation will climb to 6%, boosted by lower interest rates and the impact of the global tariff war. This also takes into account a cloudier outlook for agriculture this year.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kenyan inflation projections for the next ten years from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Kenyan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kenyan inflation projections.
Want to get access to the full dataset of Kenyan inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
-
Hong Kong: Inflation moderates in May Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and... -
Canada: Inflation remains on target in May Latest reading: Inflation came in at 1.7% in May, matching April’s reading and market expectations, and comfortably within the Central... -
Japan: Inflation declines to lowest level since November 2024 in May Latest reading: Inflation ticked down to 3.5% in May, from April’s 3.6%. May’s reading marked the weakest inflation rate since... -
Lithuania: Harmonized inflation dips in May Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.6%. May’s figure represented the weakest inflation... -
Netherlands: Harmonized inflation falls in May Latest reading: Harmonized inflation came in at 2.9% in May, which was down from April’s 4.1%. May’s reading represented the... -
Estonia: Harmonized inflation rises in May Latest reading: Harmonized inflation increased to 4.6% in May, following April’s 4.4%. The reading was driven by stronger price pressures... -
Austria: Harmonized inflation falls to lowest level since December 2024 in May Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.3%. May’s reading represented the lowest inflation...