Kenya inflation in July 2022

Consumer prices rose a seasonally adjusted 0.67% in July from the previous month, without June’s 0.89% increase. The July result was the weakest price rise since February. Moderation was broad-based, with lower recorded price pressures for food and non-alcoholic beverages, housing, utilities, fuel, and transportation.

Inflation came in at 8.3% in July, up from 7.9% in June. The July reading represents the highest inflation rate since June 2017. As a result, the trend is moderately upward, with annual inflation averaging 6.4% in July (June: 6.3%).

Members of the FocusEconomics Consensus forecast committee expect inflation to average 7.1% in 2022, 0.1 percentage point higher than last month’s forecast. For 2023, the committee sees inflation at 6.5%.

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