Analysts: the inflation increase in April was expected

By: Trademagazin editor Date: 2021. 05. 12. 11:45

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It came as no surprise to analysts that inflation skyrocketed in April this year. Based on the outlook, several analysts have raised their forecasts for this year’s annual inflation above 4.0 percent.

According to a recent report by the Central Statistical Office (KSH), consumer prices were on average 5.1 percent higher in April than a year before. Vehicle fuel prices rose 39.2 percent, despite a 1.2 percent decline from the previous month. Excise duty on tobacco products rose further on April 1, resulting in a 3.7 percent increase from March and a 20.1 percent increase in one year. (MTI)