Consumer Price Indices and Inflation Rates for July 2018

Kenya National Bureau of Statistics hereby releases monthly Consumer Price Indices (CPI) and rates of inflation, for July, 2018. These numbers were generated from a survey of retail prices that targeted a basket of household consumption goods and services. The survey was conducted during the second and third weeks of the month, with prices being obtained from selected retail outlets in 25 data collection zones in Nairobi and in 13 other urban centers.

The CPI decreased by 0.89 per cent from 193.31 in June 2018 to 191.59 in July 2018. The overall year on year inflation stood at 4.35 per cent in July 2018.

Producer Price Index Second Quarter 2018

Kenya National Bureau of Statistics hereby releases the Producer Price Index (PPI) for the second quarter of 2018.  Producer Price Index measures the gross changes in the trading price of products on the domestic and non-domestic markets, at all stages of processing.

The price changes are measured from the perspective of the producer. The producer prices are collected as at 15th February, 15th May, 15th August and 15th November of the year. These dates correspond to the first, second, third and fourth quarters of the year, respectively.

The Producer Price Indices are grouped according to the International Standards of Industrial Classifications of All Economic Activities (ISIC) Rev 4. The second quarter year on year overall producer inflation was 0.65 per cent in June 2018 compared to 6.39 per cent recorded in June 2017.

Quarterly Gross Domestic Product Report First Quarter, 2018

Provisional estimates of Gross Domestic Product (GDP) indicate that the economy expanded by 5.7 per cent during the first quarter of 2018 compared to 4.8 per cent in a similar quarter of 2017. The significant acceleration in growth was mainly attributable to improved weather conditions and a boost in business and consumer confidence after the conclusion of general elections in 2017.

From the supply side, growth was mainly driven by a recovery in activities of Agriculture as well as improved output in Wholesale and Retail Trade, Manufacturing, and Real Estate sectors. On the other hand, Financial and Insurance; Transportation and Storage; Construction; Electricity Supply; and Mining and Quarrying recorded marked slowdown in the growth. Growth of activities in the Information and Communication was robust while Accommodation and Restaurants slowed significantly but remained relatively strong.

Quarterly Balance of Payments First Quarter, 2018

In the first quarter of 2018, the current account deficit improved to KSh 107.9 billion from KSh 129.7 billion in the corresponding quarter of 2017, Merchandise exports grew by 7.1 per cent to KSh 162.9 billion in the first quarter of 2018, while merchandise imports valued on free on board (fob) basis grew by 6.5 per cent to KSh 432.1 billion, in the same quarter. Merchandise trade balance (fob) worsened by 6.1 per cent from a deficit of KSh 253.7 billion in the first quarter of 2017 to a deficit of KSh 269.3 billion in the quarter under review. During the first quarter of 2018, international trade in services registered a surplus of KSh 49.3 billion from a surplus of KSh 38.5 billion in the first quarter of 2017. Receipts from international services increased by 10.8 per cent to KSh 129.4 billion in the quarter under review partly on account of improved tourism earnings. Remittances from the diaspora increased substantially in the first quarter of 2018 and boosted the secondary income to record a surplus of KSh 129.3 billion.
During the first quarter of 2018, financial net inflows increased by 51.8 per cent to a surplus of KSh 323.8 billion mainly as a result of proceeds from the Eurobond. Gross official reserves increased by 9.4 per cent to KSh 944.1 billion as at end of March in 2018 from KSh 863.0 billion as at end of March 2017. Overall balance of payments improved to a surplus of KSh 206.9 billion in the quarter under review.

Consumer Price Indices and Inflation Rates for June 2018

Kenya National Bureau of Statistics hereby releases monthly Consumer Price Indices (CPI) and rates of inflation, for June, 2018. These numbers were generated from a survey of retail prices that targeted a basket of household consumption goods and services. The survey was conducted during the second and third weeks of the month, with prices being obtained from selected retail outlets in 25 data collection zones in Nairobi and in 13 other urban centers.

The CPI decreased by 0.89 per cent from 195.05 in May 2018 to 193.31 in June 2018. The overall year on year inflation stood at 4.28 per cent in June 2018.

Foreign Investment Survey, 2018 survey

The Kenya National Bureau of Statistics (KNBS) in collaboration with the Central Bank of Kenya (CBK) and the Kenya Investment Authority (KenInvest) is conducting Foreign Investment Survey (FIS) 2018 from June to August, 2018. This is the fifth survey after FIS 2010, FIS 2013, FIS 2015 and FIS 2016.

The purpose of FIS 2018 is to collect information from resident enterprises on their foreign assets and liabilities. The data collected will be used to improve the quality of data for compilation of Balance of Payments (BOP) and International Investment Position (IIP) statistics. In addition, data collected will be used for investment promotions and policy formulation.

Specific objectives of the survey are:

  • To collect comprehensive information, with geographic detail, on the stocks and flows of inward and outward foreign capital.
  • Apply the 2018 FIS Survey information to improve BOP and IIP Statistics;
  • To collect data on foreign private debt;
  • To collect data and information on foreign investment relationships for compiling Foreign Affiliates Statistics (FATS).
  • To update the enterprise register necessary for carrying out sample surveys on cross-border- financial transactions;
  • To improve the quality of foreign direct Investment (FDI) Statistics, a component of foreign investment statistics.
  • To generate investment data needed for monitoring economic development and planning appropriate national policies and;
  • To provide additional information useful for investment promotion and trade negotiations.

The survey will be administered to resident enterprises (both local and foreign owned). These enterprises are statistically selected from a pool of enterprises with foreign assets and liabilities.

Confidentiality of data collected is guaranteed under the Statistics Act, 2006 that empowers KNBS to collect Balance of Payments Statistics and other related external statistics. The survey personnel are under oath not divulge any information provided by enterprises to a third party.

Given the importance of this exercise, we appeal to the management of the selected enterprises to cooperate and support the survey field staff.  Our field staff have been directed to produce identification badges or introduction letters on demand.

Foreign investment surveys are conducted on an annual basis. The findings of this survey will be disseminated in October, 2018 and will be made available on the KNBS website.

Consumer Price Indices and Inflation Rates for May 2018

Kenya National Bureau of Statistics hereby releases monthly Consumer Price Indices (CPI) and rates of inflation, for May, 2018. These numbers were generated by conducting a survey of retail prices for a basket of household consumption goods and services, during the second and third weeks of the month under review. The prices were obtained from selected retail outlets in 25 data collection zones in Nairobi and 13 other urban centers.

The CPI increased by 0.97 per cent from 193.18 in April 2018 to 195.05 in May 2018. The overall year on year inflation stood at 3.95 per cent in May 2018.

 

Consumer Price Indices and Inflation Rates for April 2018

Kenya National Bureau of Statistics hereby releases monthly Consumer Price Indices (CPI) and rates of inflation, for April, 2018. These numbers were generated by conducting a survey of retail prices for a basket of household consumption goods and services, during the second and third weeks of the month under review. The prices were obtained from selected retail outlets in 25 data collection zones spread across Nairobi and 13 other urban centers.

The CPI increased by 1.35 per cent from 190.62 in March 2018 to 193.18 in April 2018. The overall year on year inflation stood at 3.73 per cent in April 2018. 

Economic Survey 2018 Launched

Kenya’s economy is estimated to have expanded by 4.9 per cent in 2017 compared to a revised growth of 5.9 per cent in 2016. The slowdown in the performance of the economy was partly attributable to uncertainty associated with a prolonged electioneering period coupled with adverse effects of weather conditions. Generally, key macroeconomic indicators largely remained stable and therefore supportive of growth in 2017. Interest rates declined due to the impact of their capping that became effective in September 2016.

In the money market, the Kenyan Shilling strengthened against most of the major trading currencies but weakened against the Euro and the US Dollar in 2017. The current account deficit widened in the year under review on account of significant growth of imports against a slower growth of exports. There was a moderate build up in inflationary pressures mainly due to significant increase in oil and food prices during the year under review. Consequently, inflation rate rose from 6.3 per cent in 2016 to 8.0 per cent in 2017.

Performance across the various sectors of the economy varied widely, with Accommodation and Food services; Information and Communication Technology; Education; Wholesale and Retail trade; and Public Administration registering accelerated growths in 2017 compared to 2016. On the other hand, growths in Manufacturing; Agriculture, Forestry and Fishing; and Financial and Insurance decelerated significantly over the same period and therefore dampened the overall growth in 2017.

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Economic Survey 2018 3.59 MB 3029 downloads

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Economic Survey 2018 Highlights 732.28 KB 1338 downloads

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Producer Price Index First Quarter 2018

Kenya National Bureau of Statistics hereby releases the Producer Price Index (PPI) for the first quarter of 2018. Producer Price Index measures the gross changes in the trading price of products on the domestic and non-domestic markets, at all stages of processing.

The price changes are measured from the perspective of the producer. The producer prices are collected as at 15th February, 15th May, 15th August and 15th November of the year. These dates correspond to the first, second, third and fourth quarters of the year, respectively.

The Producer Price Indices are grouped according to the International Standards of Industrial Classifications of All Economic Activities (ISIC) Rev 4. As shown in Figure 1, the first quarter year on year overall producer inflation was 1.53 per cent in March 2018 compared to 3.38 per cent recorded in March 2017.

The overall producer prices increased by 0.29 per cent from December 2017 to March 2018 while the ‘year on year’ inflation was 1.53 per cent. Over the last one year, the highest increase was on manufacture of wood and of products of wood which rose by 8.61 per cent followed by manufacture of chemicals and chemical products which increased by 8.31 per cent. However, during the same period water, manufacture of non-metallic products and manufacture of rubber and plastic products declined by 11.89, 3.11 and 2.11 per cent, respectively. 

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