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

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.