Rebasing is the process of replacing an old base year to compile volume measures of GDP with a new and more recent base year or price structure.
Economies are dynamic in nature: they grow, they shrink, they add new sectors, new products and new technologies, and consumer behaviour and tastes change over time.
Rebasing is used to account for these changes, so as to give a more current snapshot of the economy. Download Highlights of the revision of National accounts
Sources and Methods-National Accounts Statistics- Kenya
Information on the Revised National Accounts
Kenya National Bureau of Statistics hereby releases Consumer Price Indices (CPI) and inflation rates for September 2014. These numbers have been generated using data collected during the second and third weeks of the month under review. The prices were obtained from selected retail outlets in 25 data collection zones located in 13 urban centers.
The CPI increased by 0.15 per cent from 152.02 in August to 152.24 in September 2014. The overall inflation rate stood at 6.60 per cent in September 2014. Download
Kenya initiated the process of rebasing and revising the National Accounts Statistics in 2010. The main objectives of the revision was to implement recommendations of 2008 System of National Accounts (2008 SNA), change base year from 2001 to 2009 and, revise the annual and quarterly national accounts statistics for the period 2006 to 2013. In addition, the revision was to include the development of Supply and Use Tables (SUT) as an integral part of the National Accounts Statistics.
Broadly, the revision process involved the use of a wide range of information from surveys, censuses and administrative records. This information was compiled in a coherent and consistent manner to achieve the overall goal of improving National Accounts statistics.
Targeted output from the exercise include revised annual and quarterly national accounts estimates for the period 2006 to 2013 and balanced 2009 Supply and Use Tables (SUT). The results will be released officially on Tuesday 30th September 2014. The function will be held at the KICC.
The Leading Economic Indicators for July 2014 highlights trends in Consumer Price Indices (CPI) and inflation, interest rates, exchange rates, international trade, agriculture, energy, manufacturing, building and construction, tourism and transport.
Consumer Price Index (CPI) increased from 149.91 points in June 2014 to 150.60 points in July 2014. The overall rate of inflation rose from 7.39 per cent to 7.67 per cent during the same period. In the month of July, the Kenyan Shilling depreciated against major currencies except the Euro and the Tanzanian Shilling.
The average yield rate for the 91-day Treasury bills, which is a benchmark for the general trend of interest rates, dropped to 9.78 per cent in July 2014 from 9.81 per cent in June 2014. The inter-bank rates increased to 7.98 per cent during the period. The Nairobi Securities Exchange 20 share index rose from 4,885 points in June 2014 to 4,906 points in July 2014, while the total number of shares traded decreased from 731 million to 625 million shares during the same period. The total value of NSE shares traded decreased substantially from KSh 18.2 billion to KSh 15.0 billion over the same period. Broad money supply (M3), a key indicator for monetary policy formulation expanded from KSh 2,129.9 billion in May 2014 to KSh 2,329.0 billion in June 2014. Gross Foreign Exchange Reserves expanded from KSh 731.6 billion in May 2014 to KSh 922.1 billion in June 2014 while Net Foreign Exchange Reserves increased from Ksh 365.3 to Ksh 531.4 billion over the same period. Download full report…
Kenya National Bureau of Statistics hereby releases Consumer Price Indices (CPI) and inflation rates for August 2014. These numbers have been generated using data collected during the second and third weeks of the month under review. The prices were obtained from selected retail outlets in 25 data collection zones located in 13 urban centers.
The CPI increased by 0.94 per cent from 150.60 in July to 152.02 in August 2014. The overall inflation rate stood at 8.36 per cent in August 2014. Download full report…