Kenya’s Inflation Rate Rises to 7.9%
The inflation rate for June 2021 has risen to 7.9% amid an increase in fuel and food prices.
Rising food and fuel prices have pushed Kenya’s inflation rate to 7.9% compared to last month’s rate of 7.1%.
Food and non-alcoholic beverages rose 1.2%. Furnishings, household equipment, and routine household maintenance rose 1.5%. Transport rose 0.9%, and housing, water, electricity, gas, and other fuels rose 0.9% between May 2021 and June 2022.
The inflation rate has surpassed the government’s target of 2.5 to 7.5%, which it used to maintain stability in prices in the domestic market.
What it means for you
With the rise in inflation, the cost of goods and services becomes more expensive.
On the other hand, it means that your savings and investments should bring you higher rates of 7.9% to offset the effects of inflation on your money.
If you want to find out more, I wrote an article 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.
This is a well done piece…indeed an upsurge in commmodity prices as a result of inflation will require that the investment income be higher to cater for the additional cost. Thanks Stephen for this 👍