ILAM CPI declines by 1.5% in the third quarter of 2023

By Steve UMIDHA Last updated Jan 30, 2024

By Isaac OGANGA

ILAM Consumer Spending Index declines by 1.5% in the third quarter of 2023, according to Fund Manager ICEA LION Asset Management launches the ILAM Consumer Spending Index (ICSI).

The individual spending sub-index fell by 3% between July and September 2023 while the retail business sales subindex remained broadly flat in the same period, resulting in a decline of 1.5% in the overall consumer spending index (which is weighted 50% by changes in individual spending and 50% by changes in retail business sales).

The index is aimed at tracking consumer spending as a gauge of how the real economy is trending. It is based on interviews of 500 consumers and 100 retail businesses in the greater Nairobi area.

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Steven Umidha is a data and financial journalist with over 15 years of work experience in journalism and communication.

He specialises in finance and economics reporting as well as on the causes, impacts, and solutions of global warming, conservation, pollution and sustainability, often blending scientific literacy with journalist ethics, while involving policy analysis and multimedia storytelling across various platforms in highlighting issues from biodiversity loss to ecological justice.

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