Inflation fears persist as firms brace for fuel price pressures
Private sector revises inflation expectations upwards...
✨ Key Highlights
Kenyan private sector firms are revising their inflation expectations upwards, driven by persistent concerns over fuel prices and supply-side pressures, though they still anticipate overall price growth to remain within the Central Bank of Kenya (CBK)'s target range.
- Approximately 90 percent of respondents cited higher fuel and energy prices as the primary drivers of inflation.
- The survey involved 400 private sector firms, including commercial banks, microfinance banks, and non-bank firms.
- Businesses anticipate inflation to be slightly above 5 percent in July due to the delayed impact of elevated global energy prices and geopolitical tensions affecting freight costs.
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