Inflation in Kenya
Consumer price inflation in Kenya averaged 6.3% in the ten years leading to 2022, which is below the Sub-Saharan Africa regional average of 9.4%. The 2022 average figure was 7.7%. For more inflation information, visit our dedicated page.
Kenya Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Kenya from 2014 to 2023.
Source: Macrobond.
Kenya Inflation Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 5.2 | 5.4 | 6.1 | 7.7 | 7.7 |
Inflation (CPI, ann. var. %, eop) | 7.2 | 5.6 | 5.7 | 9.1 | 6.6 |
Inflation drops to a near four-year low in June
Inflation dropped to 4.6% in June, following May’s 5.0%. June's result represented the weakest inflation rate since September 2020. Looking at the details of the release, the slowdown was broad-based, with moderating price pressures for food and non-alcoholic beverages, housing and transportation. Accordingly, the trend pointed down, with annual average inflation coming in at 6.2% in June (May: 6.5%). Lastly, consumer prices rose 0.42% in June over the previous month, below the 0.90% rise seen in May.
Oxford Economics’ Shani Smit-Lengton commented: “Kenya will receive above-average rainfall in the period June to September, which could lead to further flooding during the country's primary growing season (June-September). We have already warned that the recent floods, which occurred during the country's main planting season (mid-March to the end of May), could lead to a delayed harvest or lower crop yields in the second half of 2024, suggesting that additional flooding could exacerbate the current situation.”
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 18 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.
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