CBK: Inflation to hit 6.2pc mark in July
Regulator says prolonged Middle East conflict will push the cost-of-living measure to its highest since 2024...
✨ Key Highlights
The Central Bank of Kenya (CBK) forecasts inflation to reach 6.2 percent in July, driven by elevated fuel costs and a prolonged Middle East conflict which is impacting global oil supply chains.
- Inflation is projected to peak at 6.2% in July 2026.
- The CBK is the key organization issuing the forecast.
- This rise in inflation is expected to further erode workers' purchasing power, continuing a trend of negative real wages for five consecutive years.
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Ruto Signs Tax Relief Law Reducing Fuel VAT by Half for Three Months - April 2026
President William Ruto has signed the VAT Amendment Bill into law, reducing the Value Added Tax on petroleum products from 16% to 8% for three months, aiming to offer immediate relief to motorists and businesses. The Central Bank of Kenya forecasts inflation to reach 6.2 percent in July, driven by elevated fuel costs and a prolonged Middle East conflict impacting global oil supply chains. Meanwhile, cooking gas (LPG) prices have surged by up to Sh390 for a 13-kilogramme pack in Nairobi. In Makueni County, residents have expressed that the new fuel prices have not significantly eased the high cost of living, with the financial burden on households remaining a major concern.
