I was surprised to find that the inflation rate and the price of gold in Kenya do not always follow the same trend. The following charts, using data from the World Bank, show the prices of gold and the inflation rate in Kenya since the 1960s.

As you can see, there are many periods where the two charts do not track each other closely. For example, in the early 2010s, the inflation rate was high, but the price of gold was relatively low. This was likely due to the fact that the US dollar was also depreciating at the time, making gold less attractive as an investment.

Conversely, in the late 2000s, the inflation rate was low, but the price of gold was relatively high. This was likely due to the fact that gold was seen as a safe haven asset during a time of economic uncertainty.

Overall, the relationship between inflation and the price of gold is complex and there are many factors that can affect it. However, it is clear that the two do not always follow the same trend.