Kenya’s Inflation Rate Rose to 6.32% in June
Kenya’s inflation rate rose to a 16-month high of 6.32% due to a rise in food and fuel prices.
According to the monthly inflation data released by the Kenya National Bureau of Statistics (KNBS), the overall rate of inflation in June rose to 6.32% compared to the 5.87 per cent recorded in May.
This increase was mainly driven by rise in prices of food, housing, water, electricity, gas and transport.
What it means for you
With the rise in inflation, the cost of goods and services become more expensive.
On the other hand, it means that your savings and investments should bring you rates that are higher than 6.32% to offset the effects of inflation on your money.
If you want to find out more, here is an article I wrote about the impact of inflation on your savings and investments.
Disclaimer: This article provides information and education for investors. Please do your research and consult your financial advisor before making any decisions.
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