Data released on 30 August 2024, reveals that Kenya’s Consumer Price Index (CPI) has slightly increased to 4.40% in August, from 4.30% in July 2024. This marks a modest rise of 0.10 percentage points in the year-over-year inflation rate, signaling cautious but visible inflationary pressures in the economy.The CPI, a crucial indicator of inflation, reflects changes in the prices of a basket of goods and services over time. The new data compares August 2024 prices to those of the same month in 2023. The previous month’s CPI data for July was also calculated on a year-over-year basis, illustrating how prices evolved compared to July of the previous year.This incremental rise in inflation could have multiple causes, including fluctuating commodity prices, exchange rate variances, or domestic economic factors. As the Kenyan government and policymakers analyze these trends, they may look into measures to maintain economic stability and manage inflation effectively. Market participants and consumers alike will be keeping a close watch on future CPI releases to gauge the economic trajectory heading into the final months of 2024.The material has been provided by InstaForex Company – www.instaforex.com
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