NCBA Inflation Reaction

Annual headline inflation registered at 7.9% (7.91%) in April 2023 – a 130.00bps decline from 9.2% observed in March. The decline largely reflected lower prices of fast-growing produce due to the onset of the long-rains. The favorable weather conditions deflated food prices – bringing down annual food inflation from 13.4% to 10.1%, a 330.00bps decline.