Post-election jitters & inflation continue to dampen confidence in October



KEY FINDINGS

  • KASI CCI declined by 2 points in October

  • Inflation and shrinking purchasing power cloud short-term outlook

  • Post-elections jitters in Cameroon & recent events in Tanzania drive down expectations

Though a continuation in the upward trend of the global consumer confidence index score was more favorable, the month of October was generally characterized by a fall in consumer confidence index for the individual countries. Thus the global index recorded a 2 point decline in the confidence index. The exception is Kenya that recorded a notable +14 point increase to +11. Kenya attained its fastest growth pace in the agricultural sector over the last two years, at the close of September alongside growth in other industries such as infrastructure development.

Consumer confidence dropped again in October


Spending and Job security continue to dampen short-term outlook

Consumers’ evaluation of prevailing economic conditions declined to -14 from a score of -11 while expectations took a 1 point drop to +18.

Personal finance deteriorates

A 3 percentage point decline to 34 percent is recorded for consumers that expect an increase in their household income over the next 6 months, while the share of consumers that maintain thei