Kenya Inflation August 2022

Kenya

Kenya: Inflation rises to over five-year high in August

August 31, 2022

Consumer prices increased a seasonally-adjusted 0.42% in August over the previous month, moderating from July's 0.67% rise. August's result marked the weakest reading since February. The cooling of price pressures was primarily due to a slower rise in prices for food and non-alcoholic beverages.

Inflation came in at 8.5% in August, which was up from July’s 8.3%. August's result represented the highest inflation rate since June 2017. Consequently, the trend pointed up slightly, with annual average inflation coming in at 6.6% in August (July: 6.4%).

FocusEconomics Consensus Forecast panelists expect inflation to average 7.7% in 2022, which is up 0.6 percentage points from last month’s forecast. For 2023, the panel sees inflation averaging 7.1%.


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Kenya Inflation August 2022

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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