Page 2 - Cbk Data News Today

Kenya’s inflation hit a 27-month high in May on the back of a jump in the price of essential items like cooking oil, food, fuel and soap.

The shortage of dollars is triggering the emergence of parallel exchange rate that has seen lenders buying and selling well above the printed official rate.

CBK data offers a sneak-peek into Kenyans' banking culture and income inequality.

Data from the Central Bank of Kenya (CBK) shows the deposit rate rose from 6.47 percent in February 2021.

Defaulted loans in the banking sector jumped Sh40 billion in the two months to February on the back of 16 accounts that masked the increased repayments.

The amount of cash circulating outside banks fell by Sh8.4 billion in January, reflecting reduced spending activity among Kenyans after the spike during the December festivities.

Car, homeowners and players in the energy sector had the worst loans default last year, defying a recovering economy that expanded at the fastest pace in more than three decades.

The number of dormant mobile money accounts increased by 926,000 last year driven by defaults on digital loans that pushed subscribers to deactivate their SIM cards.

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