Kenyan Listed Banking Sector Quarterly Earnings and Operating Metrics
Inflation
Inflation has averaged 8.7% in Q3'2022 compared to 6.7% in a similar period in 2021
Cytonn Report: 5-Year Inflation Rates
12.0%
9.5%
10.0%
7.2%
8.0%
6.9%
6.3%
5.7%
6.0%
4.0%
5.1%
3.8%
2.0%
0.0%
1-Nov-17 1-Mar-18
1-Jul-18
1-Nov-18
1-Mar-19
1-Jul-19
1-Nov-19
1-Mar-20
1-Jul-20
1-Nov-20
1-Mar-21
1-Jul-21
1-Nov-21 1-Mar-22
1-Jul-22
1-Nov-22
*Source: KNBS
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The average inflation rate increased to 8.7% in Q3'2022 compared to 6.7% in a similar period in 2021 mainly attributable to the
surge in food and fuel prices. Inflation for the month of November 2022 marginally declined by 0.1% to 9.5%, from 9.6% recorded
in October 2022. The high inflation rate was mainly attributable to a 15.4%, 11.7% and 6.1% increase in the food and non-
alcoholic beverages index, transport as well as housing, water, electricity, gas and other fuels index
Going forward, we expect inflationary pressures to remain elevated on the back of high fuel prices. With fuel being a major input in
most businesses, we expect the high fuel prices to continue contributing to the elevated cost of production consequently elevating
prices of commodities
Cytonn
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